Cost of Living in Colfax, WA

With a cost of living index of 88, Colfax, WA is a very affordable place to live. Living here is 12% cheaper than the national average and 32% below the Washington state average of 119. Colfax is a small community of 2,785 residents.

Housing costs are the biggest factor in Colfax's cost of living. The median monthly rent is $986 (25% below the US median of $1,319), and the median home value sits at $246,300 (19% below the national median of $304,900). At current prices, the median home costs roughly 4.3x the median household income — a moderately affordable ratio by today's standards.

The median household income in Colfax is $56,929, which is 24% lower than the national median of $75,149. Residents spend roughly 21% of household income on rent. This is a comfortable ratio, well below the 30% threshold that financial experts recommend as a maximum. Lower incomes here are balanced by the significantly lower cost of living, stretching each dollar further.

Climate is another factor for anyone considering a move to Colfax. The area sees an average annual temperature of 48.6°F, with summers averaging 65°F and winters around 33°F. Annual rainfall totals 17.5 inches spread over roughly 114 days.

Data sources: US Census Bureau (ACS 2023), Zillow Home Values, HUD Fair Market Rents, BEA Regional Price Parities, BLS Average Prices, and NOAA Climate Normals. Updated monthly.