Colfax, IA vs Melbourne, IA

Melbourne is moderately more affordable than Colfax, with a 6.5% lower cost of living index. Colfax scores 71 compared to 66 for Melbourne, where the US average is 100. This difference means residents of Colfax can expect to pay noticeably more for everyday expenses, housing, and services.

On the housing front, median rent in Colfax is $830/month compared to $722/month in Melbourne — a 15% difference. Home values follow the same pattern: Melbourne is more affordable at $147,400 median vs $160,500.

Median household income in Colfax is $82,878 compared to $82,857 in Melbourne. Looking at affordability, residents of Colfax spend roughly 12% of their income on rent, more than the 10.5% in Melbourne.