Cost of Living in Colfax, IL
Housing
The housing market plays a significant role in determining the cost of living in Colfax, IL.
- Housing Index: 101.8 / 100
- Median Home Price is: $150,000
- Average Rent (2 BR Apartment): $1707 per month
- Average Rent (2 BR House): $1855 per month
When considering a move to Colfax, IL, it's important to examine the housing climate. With a housing index of 101.8, the market's activity seems inactive or stagnant. The median home price stands at 150000, making homeownership relatively affordable compared to national averages. However, the data indicates that average rent for both a 2-bedroom apartment and a house is currently at 1707 and 1855 respectively, suggesting a lack of rental options. It may be prudent to explore the local job market and amenities before making any major decisions.
Utilities
The cost of utilities such as electricity, natural gas, and other services can significantly impact the overall cost of living in Colfax, IL.
- Electricity Price: $16.15 USD (median by state)
- Natural Gas Price: $16.59 USD per Thousand Cubic Feet (median by state)
- Other Utilities (water, garbage, etc.): $244 per month
Living in Colfax, IL could entail higher utility costs. Electricity costs sit at $16.15, while natural gas is priced at $16.59 per Thousand Cubic Feet — both aligning with state medians. Expect to budget about $244 monthly for other services like water and garbage. These utility expenses are vital considerations as they directly influence monthly living costs. Comparing these rates to other cities may help ascertain if Colfax is a financially viable option for your relocation.