Colfax, IL 61728 - Home Prices, Rental Trends, Listings & Demographics | Prop:Metrics

Colfax, IL—61728

Real Estate Data & Market Trends

Key Metrics at a Glance

Median Home Value

$172,000

5.7% YoY Growth

Household Income

$93,700

55.2% YoY Growth

Days on Market

24.0% Longer YoY

Home Price Forecast

2.1%

Median Rent

N/A

1-Bed Rent

N/A

2-Bed Rent

N/A

3-Bed Rent

N/A

Home Price Trends — Colfax, IL

As of May '26, the median home price in Colfax, IL is $172,000, with a year-over-year change of 5.7%. This indicates that home prices in Colfax, IL are increasing. According to Zillow, the 1-year price projection is 2.1%, suggesting an increase housing market in the next year.

Cost per Home Type

Home Type	Median Home Value	YoY % Change
All Homes	$172,000	5.7%
Single Family	$173,000	6.1%
Condos	N/A	N/A

Cost per Home Size

Home Size	Median Home Value	YoY % Change
1 Bed

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

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% of Rental Stock

1 Bedroom

9.4%

2 Bedrooms

22.9%

3 Bedrooms

56.2%

4 Bedrooms

11.5%

Property Listings — Colfax, IL

As of May '26, Realtor.com reports that the median days on market for a home in Colfax, IL is 81. This is a increase of 24.0% from last year, suggesting that homes are sitting on the market longer 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	$179,000	11.0%
Listing Count	6	0.0%
Listings as % of Homes	0.6%	0.0%
Days on Market	81	24.0%

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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%

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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%

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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%

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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

Colfax, IL—61728

Key Metrics at a Glance

Home Price Trends — Colfax, IL

Cost per Home Type

Cost per Home Size

% of Housing Stock

Rental Trends — Colfax, IL

% of Rental Stock

Property Listings — Colfax, IL

Demographics — Colfax, IL

Race and Ethnicity

Mortgage and Risk — Colfax, IL

Mortgages

Rentals and Section 8 — Colfax, IL

Section 8 Market Size

Section 8 Opportunity

Affordability — Colfax, IL

Home Price to Income Ratio

Colfax, IL — ZIP Code Boundary Map

Nearby ZIP Codes

Cooksville, IL

Anchor, IL

Cropsey, IL

Arrowsmith, IL

Ellsworth, IL

Frequently Asked Questions

Metric	Zip Code Average
Home Price to Income Ratio	1.5
Median Home Price	$172,000
Median Household Income	$93,700

Colfax, IL—61728

Key Metrics at a Glance

Home Price Trends — Colfax, IL

Cost per Home Type

Cost per Home Size

% of Housing Stock

Rental Trends — Colfax, IL

% of Rental Stock

Property Listings — Colfax, IL

Demographics — Colfax, IL

Race and Ethnicity

Mortgage and Risk — Colfax, IL

Mortgages

Rentals and Section 8 — Colfax, IL

Section 8 Market Size

Section 8 Opportunity

Affordability — Colfax, IL

Home Price to Income Ratio

Colfax, IL — ZIP Code Boundary Map

Nearby ZIP Codes

Cooksville, IL

Anchor, IL

Cropsey, IL

Arrowsmith, IL

Ellsworth, IL

Frequently Asked Questions

What is the average home price in Colfax, IL 61728?

How have home prices in Colfax, IL 61728 changed over the past year?

What is the home price projection for Colfax, IL 61728?

What are the demographics of Colfax, IL 61728?

How long does it take homes to sell in Colfax, IL 61728?

What is the average rent price in Colfax, IL 61728?