Colfax, IA vs Independence, IA

Colfax, IA and Independence, IA have a very similar cost of living, with only a 4.1% difference in their overall index. Colfax scores 71 while Independence scores 68 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 Colfax is $830/month compared to $769/month in Independence — a 8% difference. Home values follow the same pattern: Independence is more affordable at $156,900 median vs $160,500.

Median household income in Colfax is $82,878 compared to $72,250 in Independence (+14.7%). While Colfax is more expensive, its higher salaries more than compensate — residents there may actually end up with more disposable income. Looking at affordability, residents of Colfax spend roughly 12% of their income on rent, less than the 12.8% in Independence.