Colfax, NC—27235
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Colfax, NC
As of Oct '25, the median home price in Colfax, NC is $405,000, with a year-over-year change of 1.8%. This indicates that home prices in Colfax, NC are increasing. According to Zillow, the 1-year price projection is 1.1%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $405,000 | 1.8% |
| Single Family | $407,000 | 2.0% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $273,000 | 1.1% |
3 Bed | $350,000 | 2.0% |
4 Bed | $478,000 | 1.3% |
| 5 Bed | N/A | N/A |
% of Housing Stock
Rental Trends — Colfax, NC
As of July '25, Rentcast reports the average rent in Colfax, NC is $2,440, with a year-over-year rent change of 13.0%. Per bedroom, the median rent as of July '25 in Colfax, NC is 3-bedrooms: $1,930, 4-bedrooms: $2,820. The most common rental property sizes in Colfax, NC are 2-bedroom and 3-bedroom, accounting for 40.8% and 25.9% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $2,500 | $2,440 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | N/A | N/A |
| 2 Bed Rent | N/A | N/A |
| 3 Bed Rent | $1,900 | $1,930 |
| 4 Bed Rent | $2,600 | $2,820 |
% of Rental Stock
Property Listings — Colfax, NC
As of Oct '25, Realtor.com reports that the median days on market for a home in Colfax, NC is 68. This is a increase of 80.0% 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 9.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $434,000 | 4.0% |
Listing Count | 46 | 60.0% |
| Listings as % of Homes | 1.8% | 60.0% |
Days on Market | 68 | 80.0% |
Demographics — Colfax, NC
As of the latest ACS Survey released in 2023, Colfax, NC has a population of 4,960, which has increased by 8.9% over the past 5 years. Colfax, NC is a moderately popular place for families, as children make up 17.9% of the population. The area has a moderately educated workforce, with 40.4% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 17.1% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 4,960 | 8.9% |
% Under 18 | 17.9% | -11.4% |
% Seniors | 31.3% | 34.3% |
% WFH | 17.1% | 180.3% |
% w/ College Degree | 40.4% | -10.8% |
As of the latest ACS Survey released in 2023, Colfax, NC is a predominantly white area, with 74.7% of the population identifying as white. The white population has shrunk by 12.5% in the last 5 years. The second most common race or ethnicity in Colfax, NC is black, making up 10.6% of the population. Foreign-born residents account for 11.1% of the population in Colfax, NC, and this percentage has increased by 60.9% as of the ACS Survey 5 years prior, suggesting more immigrants are calling the area home.
Race and Ethnicity
| Metric | Latest Census | 5-Year % Change |
|---|---|---|
% White | 74.7% | -12.5% |
% Black | 10.6% | 125.5% |
% Hispanic | 7.3% | 0.0% |
% Asian | 5.8% | 163.6% |
% Foreign Born | 11.1% | 60.9% |
Mortgage and Risk — Colfax, NC
According to HUD data as of 2023, there were 137 mortgage originations in Colfax, NC, of which 84.0% of loans were conventional mortgages. The average loan-to-value was 64.0%, with 24.0% above 90% LTV (very high). This implies large mortgage risk in Colfax, NC. Investor activity is low, as 1.0% of loans were by investors. 8.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 137 |
% Conventional Loans | 84.0% |
% Government Loans | 16.0% |
% Investor Loans | 1.0% |
% Second Loans | 2.0% |
% Cash Out Refinance | 8.0% |
Loan Activity
Rentals and Section 8 — Colfax, NC
Colfax, NC 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 | $1,090 |
| 2 Bedroom | N/A | N/A | $1,240 |
| 3 Bedroom | -$300 | $1,900 | $1,600 |
| 4 Bedroom | -$750 | $2,600 | $1,850 |
Affordability — Colfax, NC
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 3.8 |
| Median Home Price | $405,000 |
| Median Household Income | $101,000 |