Colfax, IN is a small town located in Indiana. With a population of less than 200 people, Colfax provides a quaint yet peaceful atmosphere for its residents. The 2 bedroom rent in Colfax is significantly cheaper than the national average, making it an attractive option for renters. Additionally, the cost of groceries is lower here than the national average, giving you more bang for your buck.
The local economy in Colfax is mainly driven by the agriculture industry and there are several businesses that support this industry such as AgriMax Equipment, Curry's Inc., and G&T Farms. There are also some popular attractions for tourists including White Rock Nature Preserve and Kankakee River State Park. Overall, Colfax offers its residents a pleasant and quiet living experience with plenty to do nearby.
Colfax has an unemployment rate of 3.5%. The US average is 6.0%.
Colfax has seen the job market increase by 0.9% over the last year. Future job growth over the next ten years is predicted to be 29.3%, which is lower than the US average of 33.5%.
Tax Rates for Colfax
- The Sales Tax Rate for Colfax is 7.0%. The US average is 7.3%.
- The Income Tax Rate for Colfax is 5.2%. 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 $18,531 a year. The US average is $28,555 a year.
- The Median household income of a Colfax resident is $56,023 a year. The US average is $69,021 a year.