Cost of Living in Colfax, WI
Housing
The housing market plays a significant role in determining the cost of living in Colfax, WI.
- Housing Index: 99.2 / 100
- Median Home Price is: $208,000
- Average Rent (2 BR Apartment): $1325 per month
- Average Rent (2 BR House): $1440 per month
When evaluating the real estate options in Colfax, WI, it's important to note that the housing index of 99.2 is indicative of a stagnant market, possibly reflectingLower demand or an abundance of inventory. The median home price resting at 208000 can indicate that purchasing a home may be more beneficial than renting, especially given that both average rents for a 2BR apartment at 1325 and a 2BR house at 1440 remain at advantageous levels. Living in this area may yield long-term financial benefits if decisions are made wisely.
Utilities
The cost of utilities such as electricity, natural gas, and other services can significantly impact the overall cost of living in Colfax, WI.
- Electricity Price: $17.6 USD (median by state)
- Natural Gas Price: $11.5 USD per Thousand Cubic Feet (median by state)
- Other Utilities (water, garbage, etc.): $231 per month
Living in Colfax, WI could entail higher utility costs. Electricity costs sit at $17.6, while natural gas is priced at $11.5 per Thousand Cubic Feet — both aligning with state medians. Expect to budget about $231 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.