Housing in Colfax

A typical Colfax home is worth roughly $208,000

Home prices around Colfax have risen about 75% over the past 5 years.

Typical home value

$208K

▲ 7.8% in a year · MI $266K

Estimate

2-bedroom rent

$970

a month, utilities in · HUD

Median tax bill

$1,976

MI $2,904

What kind of housing town is Colfax?

Read from the numbers below. The page puts what stands out first.

Prices climbing fastUp 7.8% in a year.Your money goes further22% below the Michigan typical home.A town of owners88% of households own their home.

★ What stands out · Price trend

Home prices up 75% in 5 years

The federal house price index for the ZIP codes around Colfax rose 75% over the past 5 years, faster than across Michigan (52%). Last year prices rose 7.8%. Carrying the Census median home value forward with that index puts the typical Colfax home at roughly $208,000 today.

Colfax areaMichigan

+7.8%

past year

+75%

past 5 years

+112%

past 10 years

Estimated value

Carrying the Census median forward with the index puts a typical home at about $208K.

Federal Housing Finance Agency House Price Index (annual) for the ZIP codes around Colfax, weighted by land area. It tracks repeat sales of the same homes, so it shows how prices changed, not what homes cost.

Affordability

A typical home costs 3 years of income

Less than across Michigan (3.7 years). Try your own numbers below.

You could afford about

$257,000

Typical Colfax home $208K

That covers a typical Colfax home, with $48K to spare.

The typical home, each month

$1,310

Loan $1,030Tax $210Insurance $60

A two-bedroom rents for about $970 a month here, $340 less than owning.

Where your budget reaches nearby

Bad Axe$178K Oliver$110K Meade$138K Verona$224K Sheridan$201K

An estimate, not a loan offer: payments of up to 28% of income, a 30-year fixed loan, Colfax’s typical property tax (1.24% of value a year, from the Census) and insurance of about 0.35%. Mortgage insurance, HOA fees and other debts aren’t included.

The homes

1 of Colfax’s houses are on the National Register

Half of Colfax’s homes were built before 1976.

History →

Owners and renters

Own 88%Rent 12%

Michigan: 73% own.

1976

typical home built · MI 1972

$1,976

median property tax bill · MI $2,904

1.24%

of a home’s value, a year in tax · MI 1.25%

of homes are seasonal or vacation homes

Historic houses in Colfax

Albert E. Sleeper HouseListed 1972

U.S. Census Bureau, American Community Survey 2020-2024. Historic houses: National Register of Historic Places.

Renting

A two-bedroom rents for about $970

Renters already here pay a median of $957.

Fair Market Rent a month, utilities included

Studio$690

1 bedroom$810

2 bedrooms$970

3 bedrooms$1,210

4 bedrooms$1,300

12%

of households rent · MI 27%

renter households

70%

of renters spend 30%+ of income on rent · MI 50%

17%

of the median income, for a two-bedroom

$957

median rent paid today · Census

U.S. Department of Housing and Urban Development, Fair Market Rents by ZIP code (Huron County, MI): the 40th-percentile rent plus utilities for a standard unit. Median rent and renters: U.S. Census Bureau, American Community Survey.

Next door

Colfax vs. its neighbors

Colfax is the 2nd priciest of 6 neighboring towns. Tap one to see its housing page.

Verona$224K Colfax$208K Sheridan$201K Bad Axe$178K Meade$138K Oliver$110K

Compare more

Town	Typical value	1-yr change	2-bed rent	Median income
Colfax	$208K*	+7.8%†	$970	$69,408
Bad Axe	$178K	+2.4%	$970	$44,688
Oliver	$110K*	—	$1,100	$55,938
Meade	$138K*	—	$1,050	$73,571
Verona	$224K*	+7.8%†	$970	$59,904
Sheridan	$201K*	+6.6%†	$990	$78,125

Typical value: Zillow Home Value Index; * Census median home value where Zillow has none. † FHFA price index change where Zillow has none. Rent: HUD Fair Market Rent. New homes: Census building permits.

Neighbors talk housing

What Colfax buyers, sellers and renters are saying.

Town Square →

Weigh in

Is Colfax still affordable for young families?

Your answer becomes a post in Town Square.

Start the conversation

Home values: Zillow Home Value Index (ZHVI), Zillow Research. Sales, days on market and supply: Redfin Data Center. Income, ownership, taxes and rent: U.S. Census Bureau, American Community Survey. Price trend: Federal Housing Finance Agency House Price Index. Fair Market Rents: U.S. Department of Housing and Urban Development. Historic houses: National Register of Historic Places. Listings link to their publishers. The calculator is an estimate, not a loan offer.