Chesterfield, IN vs Colfax, IN

Chesterfield, IN and Colfax, IN have a very similar cost of living, with only a 0.7% difference in their overall index. Chesterfield scores 71 while Colfax scores 70 on the cost of living index, where 100 represents the national average. The day-to-day expenses for residents in both cities are comparable, though differences emerge when looking at specific categories.

On the housing front, median rent in Chesterfield is $957/month compared to $908/month in Colfax — a 5% difference. Interestingly, home values tell a different story: while Colfax has cheaper rent, Chesterfield actually has lower median home values ($102,300 vs $114,300).

Median household income in Chesterfield is $58,125 compared to $61,964 in Colfax (-6.2%). Colfax offers a double advantage: higher earnings combined with a lower cost of living, giving residents significantly more purchasing power. Looking at affordability, residents of Chesterfield spend roughly 19.8% of their income on rent, more than the 17.6% in Colfax.