Colfax, IL vs Madison, IL

Colfax, IL and Madison, IL have a very similar cost of living, with only a 0% difference in their overall index. Colfax scores 68 while Madison 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 $850/month compared to $1,010/month in Madison — a 16% difference. Interestingly, home values tell a different story: while Colfax has cheaper rent, Madison actually has lower median home values ($51,200 vs $123,000).

Median household income in Colfax is $71,528 compared to $44,181 in Madison (+61.9%). 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 14.3% of their income on rent, less than the 27.4% in Madison.