Colfax, IN vs Fairmount, IN

Fairmount is moderately more affordable than Colfax, with a 5.9% lower cost of living index. Colfax scores 70 compared to 66 for Fairmount, 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 $908/month compared to $827/month in Fairmount — a 10% difference. Home values follow the same pattern: Fairmount is more affordable at $96,700 median vs $114,300.

Median household income in Colfax is $61,964 compared to $45,163 in Fairmount (+37.2%). 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 17.6% of their income on rent, less than the 22% in Fairmount.