Colfax, ND is a small city located in North Dakota. It has a population of approximately 500 people and is located on the banks of the Red River. It's close proximity to Fargo, ND and Grand Forks, ND make it an ideal location for those looking for a peaceful escape from the hustle and bustle of city life. The cost of living in Colfax is very reasonable with a two-bedroom rent costing only $810 compared to $1430 nationally. Grocery costs are also quite low with an index score of 100 versus 100 in the US. Local businesses that call Colfax home include American Bank Center, Cenex Convenience Store, and Encore Flooring Outlet, just to name a few. No matter what your needs or budget may be, Colfax provides a safe and affordable place to live with plenty of local businesses to meet all your needs.
Colfax has an unemployment rate of 3.5%. The US average is 6.0%.
Colfax has seen the job market decrease by -4.0% over the last year. Future job growth over the next ten years is predicted to be 25.1%, which is lower than the US average of 33.5%.
Tax Rates for Colfax
- The Sales Tax Rate for Colfax is 5.0%. The US average is 7.3%.
- The Income Tax Rate for Colfax is 2.0%. 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 $36,957 a year. The US average is $28,555 a year.
- The Median household income of a Colfax resident is $90,625 a year. The US average is $69,021 a year.