The typical owner-occupied home in Colfax is worth about $215,000, 14% below the North Dakota median of $249,900 and 35% below the national median of $332,700. Owners pay a median $1,969 a year in property taxes, about 0.92% of their home's value, lower than the North Dakota rate of 0.99%. The median household earns $104,375 a year, so the median home costs 2.1 times the median income (3.3 times for North Dakota). 97% of occupied homes here are lived in by their owners, and 54% of those owners still have a mortgage.
Colfax at a glance
| Colfax | North Dakota | U.S. | |
|---|---|---|---|
| Median home value | $215,000 | $249,900 | $332,700 |
| Median property tax paid per year | $1,969 | $2,468 | $3,119 |
| Property tax as a share of value | 0.92% | 0.99% | 0.94% |
| Median household income | $104,375 | $76,657 | $80,734 |
| Homes lived in by their owners | 97% | 63% | 65% |
| Owner homes with a mortgage | 54% | 52% | 61% |
| Median monthly costs, owners with a mortgage | $1,856 | $1,762 | $1,963 |
| Those costs as a share of the owners' income | 17.1% | 19.4% | 21.0% |
| Median rent | – | $954 | $1,413 |
| Median year homes were built | 1972 | 1982 | 1980 |
| Vacant homes | 0.0% | 12.3% | 10.1% |
| Population | 272 | 784,841 | 334,922,499 |
What a typical home costs per month in Colfax
At this week's average 30-year rate of 7.11%, buying the median Colfax home of $215,000 with 20% down costs about $1,411 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $1,770, because the loan is bigger and FHA adds mortgage insurance.
Lenders usually want housing costs under about 28% of gross income, which means an income of roughly $60,492 for the 20%-down payment. That payment is 16% of the median Colfax household income of $104,375; at that income and 20% down, the 28% guideline points to a home of about $371,000.
| Down payment | $43,000 |
|---|---|
| Loan amount | $172,000 |
| Principal and interest | $1,157 |
| Property taxes (0.92% a year) | $165 |
| Homeowners insurance (our estimate, 0.5% a year) | $90 |
| PMI | $0 |
| Total per month | $1,411 |
Change the numbers in the calculator
| Down payment | $7,525 |
|---|---|
| Loan amount | $211,106 |
| Principal and interest | $1,420 |
| Property taxes (0.92% a year) | $165 |
| Homeowners insurance (our estimate, 0.5% a year) | $90 |
| FHA mortgage insurance | $95 |
| Total per month | $1,770 |
Change the numbers in the calculator
Questions about home buying in Colfax
What is the median home value in Colfax?
About $215,000 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Colfax?
Homeowners pay a median $1,969 a year, which is about 0.92% of the median home value. Your bill depends on your home's assessed value and local rates.
What income do you need to buy a home in Colfax?
For the median home with 20% down at 7.11%, the payment is about $1,411 a month. Keeping that under 28% of gross income takes about $60,492 a year.
More about Colfax
- Mortgage Refinance in Colfax
- Debt Relief in Colfax
- Home Equity Loans in Colfax
- Guides and quotes for mortgage refinance on our sister site, MortgageRefinance.com
Sources: U.S. Census Bureau, American Community Survey 2020–2024 5-year estimates; Freddie Mac Primary Mortgage Market Survey, week of November 12, 2026. Estimates for small places have wide margins of error. About our data