Affordable

What Salary Do You Need to Live in Colfax?

To afford a 2-bedroom in Colfax, you need to earn at least $41,640/year based on estimated fair market rent data. The median household income here is $81,076, which means the typical resident is $39,436 above the threshold.

Census ACS Data Pop. 2,186

Salary Required by Bedroom Size

Bedroom	Monthly Rent	Monthly Income	Annual Salary	vs. Median
Studio	$729	$2,430	$29,160	$-51,916
1 Bedroom	$864	$2,880	$34,560	$-46,516
2 Bedroom BENCHMARK	$1,041	$3,470	$41,640	$-39,436
3 Bedroom	$1,270	$4,233	$50,800	$-30,276
4 Bedroom	$1,562	$5,207	$62,480	$-18,596

Affordability Breakdown

Where the required salary line crosses above Colfax's median income — housing becomes unaffordable for the typical resident.

Required Salary Median Income

Income vs. Rent Snapshot

Median Income

$81,076

Annual household

2BR Required Salary

$41,640

Under 30% rule

Income Gap

+$39,436

Surplus

Verdict

Affordable

Ratio: 15.4%

The 30% Rule Calculator

Enter your annual salary to see what you can afford in Colfax

Your Annual Salary

Pre-filled with Colfax's median household income

Max monthly rent you can afford$2,027

Studio

$729/mo

1 BR

$864/mo

2 BR

$1,041/mo

3 BR

$1,270/mo

4 BR

$1,562/mo

Your salary is $0 above the median income in Colfax.

Salary Comparison by Bedroom

Bars left of the marker line are affordable for Colfax's median earner. Bars to the right require above-median income.

Affordable Above Median Median Income

What This Means If You're Moving to Colfax

Colfax, Iowa stands out as one of the more financially accessible housing markets in the state. The median household income of $81,076 significantly exceeds the $41,640 needed to comfortably afford a 2-bedroom at 30% of gross income — leaving a $39,436 annual surplus for savings, debt repayment, or lifestyle spending.

For remote workers or relocators evaluating Colfax, a studio at $729/month offers an even more aggressive savings rate. Even a 3-bedroom at $1,270/month remains accessible for dual-income households earning above $50,800.

To live comfortably with room for non-housing expenses, a break-even salary of approximately $62,460 would position you well — though many residents in Colfax manage on less given the favorable rent-to-income dynamics.

Economic Outlook

Local Job Market & Housing Dynamics

Affording rent isn't just about housing prices—it's heavily dependent on local employment opportunities and the strength of the job market in Colfax, Iowa.

With a total population of 2,186, the city supports an active civilian workforce of 1,073 people. A strong employment base often indicates a stable economy, which is crucial when committing to a lease requiring a $41,640 annual salary. The ratio of employed residents to the total population provides insight into the local economic health and competition for both jobs and housing.

Employed Workforce

1,073

Active civilian employees in Colfax

Frequently Asked Questions About Renting in Colfax

What salary do I need to live in Colfax, Iowa?

To afford a 2-bedroom in Colfax under the 30% rule, you need an annual salary of at least $41,640. The median household income in Colfax is $81,076.

Can I afford a 2-bedroom in Colfax on $81,076?

The affordability verdict for Colfax is "Affordable". The rent-to-income ratio is 15.4%, meaning median earners have a $39,436 surplus.

What is the average rent in Colfax compared to median income?

The median gross rent in Colfax is $864/month. With a median household income of $81,076, residents spend approximately 15.4% of their income on rent.

What salary do I need for a studio in Colfax?

A studio in Colfax rents for approximately $729/month. Under the 30% rule, you need an annual salary of $29,160 to afford this.

Is Colfax considered an affordable place to live?

Based on the surplus of $39,436 and an affordability verdict of "Affordable", Colfax is considered a affordable rental market when comparing the required 2-bedroom salary of $41,640 to the local median household income.

How Colfax Compares

Other cities in Iowa with salary requirements