Cost of Living in Colfax, IN
Housing
The housing market plays a significant role in determining the cost of living in Colfax, IN.
- Housing Index: 91.1 / 100
- Median Home Price is: $140,000
- Average Rent (2 BR Apartment): $1317 per month
- Average Rent (2 BR House): $1431 per month
Considering the housing data for Colfax, IN, the median home price of 140000 suggests affordability, particularly for prospective homeowners. However, the housing index of 91.1 could indicate a limited supply, which may lead to competitive pricing in the future. The absence of average rent values for both 2BR apartments and houses further complicates the rental market analysis. Residents might want to stay informed about other economic factors affecting this region, such as job opportunities and transportation access, which can influence overall living satisfaction.
Utilities
The cost of utilities such as electricity, natural gas, and other services can significantly impact the overall cost of living in Colfax, IN.
- Electricity Price: $14.89 USD (median by state)
- Natural Gas Price: Data is updating (median by state)
- Other Utilities (water, garbage, etc.): $233 per month
Living in Colfax, IN could entail higher utility costs. Electricity costs sit at $14.89, while natural gas is priced at data unavailable per Thousand Cubic Feet — both aligning with state medians. Expect to budget about $233 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.