The Village of Colfax had a population of 1,060 as of July 1, 2019. Colfax ranks in the upper quartile for Population Density and the lower quartile for Diversity Index when compared to the other cities, towns and Census Designated Places (CDPs) in Illinois. See peer rankings below.
The primary coordinate point for Colfax is located at latitude 40.567 and longitude -88.6164 in McLean County. The formal boundaries for the Village of Colfax encompass a land area of 0.55 sq. miles and a water area of 0 sq. miles. McLean County is in the Central time zone (GMT -6). The elevation is 755 feet.
The Village of Colfax (GNIS ID: 2398598) has a C1 Census Class Code which indicates an active incorporated place that does not serve as a county subdivision equivalent. It also has a Functional Status Code of "A" which identifies an active government providing primary general-purpose functions.
HOUSING AFFORDABILITY INDEX
|Colfax, IL Housing Affordability Index is 207 |
State of Illinois Housing Affordability Index is 119
|The Housing Affordability Index base is 100 and represents a balance point where a resident with a median household income can normally qualify to purchase a median price home. Values above 100 indicate increased affordability, while values below 100 indicate decreased affordability.|
|Colfax, IL Wealth Index is 74 |
State of Illinois Wealth Index is 105
|The Wealth Index is based on a number of indicators of affluence including average household income and average net worth, but it also includes the value of material possessions and resources. It represents the wealth of the area relative to the national level. Values above or below 100 represent above-average wealth or below-average wealth compared to the national level.|
These new demographic attributes are availiable for Neighborhoods, Cities, Counties, and ZIP Codes.
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|Population in Households||1,024|
|Population in Families||845|
|Population in Group Qrtrs||36|
|Median Household Income||$58,380|
|Average Household Income||$75,344|
|Per Capita Income||$28,514|
|Total Housing Units||447 (100%)|
|Owner Occupied HU||315 (70.5%)|
|Renter Occupied HU||85 (19.0%)|
|Vacant Housing Units||47 (10.5%)|
|Median Home Value||$112,798|
|Housing Affordability Index2||207|
|Average Household Size||2.56|
|Average Family Size||3|
GROWTH RATE / YEAR
|Median Household Income||3.38%|
|Per Capita Income||3.84%|
The table below compares Colfax to the other 1,369 incorporated cities, towns and CDPs in Illinois by rank and percentile using July 1, 2019 data. The location Ranked # 1 has the highest value. A location that ranks higher than 75% of its peers would be in the 75th percentile of the peer group.
|Total Population||# 689||50th|
|Population Density||# 280||80th|
|Diversity Index||# 1048||23rd|
|Median Household Income||# 653||52nd|
|Per Capita Income||# 735||46th|
Additional comparisons and rankings can be made with a VERY EASY TO USE Illinois Census Data Comparison Tool.