Colfax, LA is a small town located in Grant Parish. It is an affordable place to live, with the average two-bedroom rent being just $740 per month, almost half of what it costs in the rest of the United States. The grocery cost index in Colfax is also below the national average at 89 compared to 100 in the US. The economy is mainly driven by the many businesses located within the town like Bell South Telecommunications and a number of independently owned stores. There are also medical facilities within Colfax such as LaSalle General Hospital and local clinics that serve as important providers for health care services. Overall, Colfax offers a good quality of life to its citizens as well as some great opportunities for businesses looking to invest in this small town.
Colfax has an unemployment rate of 4.2%. The US average is 6.0%.
Colfax has seen the job market increase by 0.5% over the last year. Future job growth over the next ten years is predicted to be 17.4%, which is lower than the US average of 33.5%.
Tax Rates for Colfax
- The Sales Tax Rate for Colfax is 8.5%. The US average is 7.3%.
- The Income Tax Rate for Colfax is 6.0%. The US average is 4.6%.
- Tax Rates can have a big impact when Comparing Cost of Living.
Income and Salaries for Colfax
- The average income of a Colfax resident is $13,777 a year. The US average is $28,555 a year.
- The Median household income of a Colfax resident is $21,875 a year. The US average is $69,021 a year.