Housing decision brief
Colfax County, NM Housing Market
Colfax County screens as a higher purchase price, below-state rent, a higher tax-rate signal market. Use the page as a decision brief, not just a price lookup, because local income, taxes, and data confidence change how affordable the county really is.
18th lowest home value out of 33 New Mexico counties with data | 7th lowest rent out of 33
Median home value
$161,000
Purchase-price signal from Census ACS.
Median rent
$704/mo
Gross rent, including utilities where reported.
Monthly owner cost
$675/mo
Owner costs before individual loan terms.
Decision snapshot
Read this county in four signals.
Buy screen
3.1x
Median home value divided by local household income.
Rent burden
23.0%
Below 30% usually screens as less pressured.
Rent vs own
$29/mo
Median owner cost screens below median rent.
Data confidence
1 note
Crime coverage is partial, so safety comparisons need source context.
What Works
Lower rent
$704/mo is 13% below New Mexico county median
Rent burden below pressure line
23.00% of renter income goes to rent, below the 30% burden threshold.
Owning screens cheaper than renting
Median owner costs are $29/mo below median rent before individual mortgage terms.
What to Check
Tax rate needs attention
0.58% effective property-tax rate is 4% above New Mexico county median
Water quality cross-check
Water quality grade is F. Review water data before treating housing cost as the full story.
Crime data coverage
Crime data coverage is partial. Treat zero or low crime rates as incomplete until you check the source coverage.
Best Fit For
- Renters trying to keep rent below the burden threshold
- Households weighing ownership against renting
Poor Fit For
- Buyers who will not investigate local water systems before moving
- Anyone treating reported crime rates as complete without source context
County vs State vs National
The county number only matters after you see the benchmark. These comparisons show where Colfax County is genuinely cheap, where it is average, and where the hidden cost may be.
| Metric | County | State | U.S. | Signal |
|---|---|---|---|---|
Median home value Lower usually helps affordability. | $161,000 | $160,800 | $281,900 | Near state medianAt the New Mexico county median |
Median gross rent Lower usually helps affordability. | $704 | $810 | $1,163 | 13% favorable13% below New Mexico county median |
Monthly owner cost Lower usually helps affordability. | $675 | $628 | $1,672 | 7% pressure7% above New Mexico county median |
Median household income | $52,690 | $51,765 | $74,755 | Near state median2% above New Mexico county median |
Effective property-tax rate Lower usually helps affordability. | 0.58% | 0.55% | 1.02% | Near state median4% above New Mexico county median |
Rent burden Lower usually helps affordability. | 23.00% | 29.00% | N/A | 21% favorable23.00% of renter income goes to rent. |
Income Fit
A low price only helps if local income can carry the monthly cost. This panel compares the county income base with rent and owner-cost thresholds.
Rent cushion
+$24,530
Median income minus rent threshold.
Owner cushion
+$23,761
Median income minus owner-cost threshold.
Affordability Advisory
This turns the raw housing numbers into income and buy-versus-rent screens.
Affordability verdict
Housing in Colfax County is affordable. The median rent is $704/month against a median household income of $52,690, putting rent at 16.0% of income.
Rent vs own
The median rent in Colfax County is $704/month, while owner costs run $675/month. Owning saves approximately $29/month.
Income needed
To afford the median rent without exceeding 30% of gross income, a household needs to earn approximately $28,160/year. For owner costs at the 28% rule, the required income is roughly $28,929/year. With a median household income of $52,690, most households can comfortably afford rent here. Notably, 23.0% of renter households in Colfax County are cost-burdened, spending more than 30% of income on housing.
Regional context
Colfax County sits 8% more expensive than Socorro County ($653/month) in terms of median gross rent.
Better Counties to Compare
Similar counties are matched on home value, rent, income, and state context. This is more useful than a simple nearest-price list.
| County | Home Value | Rent | Why compare |
|---|---|---|---|
| Catron County, NM | $171,800 | $740/mo | Same-state comparison near $171,800 home value and $740/mo rent. |
| Socorro County, NM | $143,200 | $653/mo | Same-state comparison near $143,200 home value and $653/mo rent. |
| Grant County, NM | $164,400 | $810/mo | Same-state comparison near $164,400 home value and $810/mo rent. |
| San Miguel County, NM | $177,600 | $774/mo | Same-state comparison near $177,600 home value and $774/mo rent. |
| De Baca County, NM | $158,000 | $727/mo | Same-state comparison near $158,000 home value and $727/mo rent. |
Data Confidence
- Crime coverage is partial, so safety comparisons need source context.
Next Checks
Housing Questions for Colfax County
Is Colfax County affordable for buying a home?
Is renting or owning cheaper in Colfax County?
How much income do you need for housing in Colfax County?
What should I double-check before moving to Colfax County?
Data: U.S. Census Bureau, American Community Survey (ACS) 5-Year Estimates (2019-2023) — Informational only. Not financial or legal advice.