Colfax, IL—61728
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Colfax, IL
As of Oct '25, the median home price in Colfax, IL is $163,000, with a year-over-year change of 1.7%. This indicates that home prices in Colfax, IL are increasing. According to Zillow, the 1-year price projection is 2.6%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $163,000 | 1.7% |
| Single Family | $163,000 | 2.5% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | N/A | N/A |
3 Bed | N/A | N/A |
4 Bed | N/A | N/A |
| 5 Bed | N/A | N/A |
% of Housing Stock
Rental Trends — Colfax, IL
Colfax, IL lacks sufficient rental market data for analysis.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | N/A | N/A |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | N/A | N/A |
| 2 Bed Rent | N/A | N/A |
| 3 Bed Rent | N/A | N/A |
| 4 Bed Rent | N/A | N/A |
% of Rental Stock
Property Listings — Colfax, IL
As of Oct '25, Realtor.com reports that the median days on market for a home in Colfax, IL is 50. This is a decrease of -9.0% from last year, suggesting that homes are sitting on the market shorter than last year. The percentage of listed homes with a reduced price is 0.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $230,000 | 101.0% |
Listing Count | 4 | 122.0% |
| Listings as % of Homes | 0.6% | 122.0% |
Days on Market | 50 | -9.0% |
Demographics — Colfax, IL
As of the latest ACS Survey released in 2023, Colfax, IL has a population of 1,320, which has remained stable by 0.4% over the past 5 years. Colfax, IL is a popular place for families, as children make up 27.3% of the population. The area has a moderately educated workforce, with 28.5% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 10.8% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 1,320 | 0.4% |
% Under 18 | 27.3% | 9.2% |
% Seniors | 21.0% | 39.1% |
% WFH | 10.8% | 56.5% |
% w/ College Degree | 28.5% | 18.3% |
As of the latest ACS Survey released in 2023, Colfax, IL is a predominantly white area, with 93.3% of the population identifying as white. The white population has shrunk by 0.3% in the last 5 years. The second most common race or ethnicity in Colfax, IL is hispanic, making up 2.1% of the population. Foreign-born residents account for 0.8% of the population in Colfax, IL, and this percentage has decreased by 52.9% as of the ACS Survey 5 years prior, suggesting fewer immigrants are calling the area home.
Race and Ethnicity
| Metric | Latest Census | 5-Year % Change |
|---|---|---|
% White | 93.3% | -0.3% |
% Black | 1.5% | 650.0% |
% Hispanic | 2.1% | -47.5% |
% Asian | 0.2% | ∞% |
% Foreign Born | 0.8% | -52.9% |
Mortgage and Risk — Colfax, IL
According to HUD data as of 2023, there were 32 mortgage originations in Colfax, IL, of which 62.0% of loans were conventional mortgages. The average loan-to-value was 75.0%, with 34.0% above 90% LTV (very high). This implies large mortgage risk in Colfax, IL. Investor activity is low, as 0.0% of loans were by investors. 19.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 32 |
% Conventional Loans | 62.0% |
% Government Loans | 38.0% |
% Investor Loans | 0.0% |
% Second Loans | 0.0% |
% Cash Out Refinance | 19.0% |
Loan Activity
Rentals and Section 8 — Colfax, IL
Colfax, IL lacks sufficient Section 8 program data for analysis.
Section 8 Market Size
Total Units under HUD | N/A |
Total Units Section 8 | N/A |
% Rentals under Section 8 | N/A |
% Occupied Section 8 | N/A |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | N/A | N/A | $790 |
| 2 Bedroom | N/A | N/A | $1,000 |
| 3 Bedroom | N/A | N/A | $1,390 |
| 4 Bedroom | N/A | N/A | $1,390 |
Affordability — Colfax, IL
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 1.5 |
| Median Home Price | $163,000 |
| Median Household Income | $93,700 |