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Colfax, IN Profile: Facts & Data

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Colfax, Indiana - Basic Facts

The Town of Colfax had a population of 684 as of July 1, 2024. Colfax ranks in the upper quartile for Population Density when compared to the other cities, towns and Census Designated Places (CDPs) in Indiana. See peer rankings below.

The primary coordinate point for Colfax is located at latitude 40.195 and longitude -86.6672 in Clinton County. The formal boundaries for the Town of Colfax encompass a land area of 0.36 sq. miles and a water area of 0 sq. miles. Clinton County is in the Eastern time zone (GMT -5).

The Town of Colfax 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.

The Town of Colfax is located within Township of Perry, a minor civil division (MCD) of Clinton County.


Jump to... (On This Page!)
  1. Colfax 2024 Demographic Data
  2. Growth Rates for Colfax (Historical & 5-Year Forecast)
  3. Peer Comparisons (Rank and Percentile)
  1. Neighborhoods Demographics (Home Values, Household Income, etc.)
  2. Indiana Research Tools (Easy Tools & Current Data)
  3. Indiana Data Comparison Tool - 2024 Demographics
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Colfax, IN Data & Demographics (As of July 1, 2024)

POPULATION

Total Population 684 (100%)
Population in Households 684 (100.0%)
Population in Families 552 (80.7%)
Population in Group Quarters1 0
Population Density 1,850
Diversity Index2 14
 
 

INCOME

Median Household Income $69,516
Average Household Income $80,473
% of Income for Mortgage4 15%
Per Capita Income $32,589
Wealth Index5 63
Socioeconomic Status Index6 Moderate (49.7)
 

HOUSING

Total HU (Housing Units) 305 (100%)
Owner Occupied HU 222 (72.8%)
Renter Occupied HU 55 (18.0%)
Vacant Housing Units 28 ( 9.2%)
Median Home Value $169,672
Average Home Value $180,743
Housing Affordability Index3 166
 

HOUSEHOLDS

Total Households 277
Average Household Size 2.47
Family Households 197
Average Family Size 3.00
NOTES
  1. Group Quarters - a place where people live or stay in a group living arrangement. Includes college residents halls, nursing facilities, military barracks, and correctional facilities.
  2. The Diversity Index is a scale of 0 to 100 that represents the likelihood that two persons, chosen at random from the same area, belong to different races or ethnic groups. If an area's entire population belongs to one race AND one ethnic group, then the area has zero diversity. An area's diversity index increases to 100 when the population is evenly divided into two or more race/ethnic groups.
  3. 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.
  4. The % of Income for Mortgage quantifies the percentage of median household income dedicated to mortgage payments on a home priced at the median value (assuming a 30-year mortgage and a 20% down payment).
  5. 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.
  6. The Socioeconomic Index ranges from zero (lowest relative status) to 100 (highest relative status). This measure quantifies disparities in social position of an area's inhabitants and is built from a broad range of demographic, housing, and socioeconomic inputs. More information on this measure can be found in Esri's SEI tutorial.

GROWTH RATE / YEAR

 2020-2024 2024-2029
Population -0.61% -0.56%
Households -0.25% -0.14%
Families   0.00%
Median Household Income   1.93%
Per Capita Income   3.96%
Owner Occupied HU   -0.09%

Colfax, IN - Peer Comparisons by Rank and Percentile

The table below compares Colfax to the other 976 incorporated cities, towns and CDPs in Indiana by rank and percentile using July 1, 2024 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.

Variable Description Rank Percentile
Total Population # 416 57th
Population Density # 132 87th
Median Household Income # 497 49th
Housing Affordability Index # 783 80th
Per Capita Income # 611 38th
Diversity Index # 672 32nd

Additional comparisons and rankings can be made with a VERY EASY TO USE Indiana Census Data Comparison Tool.

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