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The total population of Colfax is estimated to be 958 with 446 males (46.56%) and 512 females (53.44%). There are 66 more females than males in Colfax.
The median household income in Colfax was $60,556 in 2021, which marked an an increase of 1,420(2.40%) from $59,136 in 2020. This income is 81.17% of the U.S. median household income of $74,606 (all incomes in 2022 inflation-adjusted dollars).
Per the latest American Community Survey by the Census Bureau, Colfax sees its highest median household income among householders in the age group of 25 to 44 years old, at $80,875. Overall, the median household income for the town of Colfax stands at $60,556.
In Colfax, the median income for all workers aged 15 years and older, regardless of work hours, was $28,903 for males and $24,046 for females. However, when specifically considering full-time, year-round workers within the same age group, the median income was $43,800 for males and $36,346 for females.
In Colfax, population is primarily represented by White households, reporting a median income of $60,433.
In 2022, the population of Colfax was 700, a 0.43% decrease year-by-year from 2021. Previously, in 2021, Colfax's population was 703, a decline of 0.00% compared to a population of 703 in 2020.
The median age in Colfax, IN is 31.5, as per 2021 ACS 5-Year Estimates. Of the total population, 20.84% were under the age of 15, 27.36% aged 15 to 29, 36.67% aged 30 to 64, 11.41% aged 65 to 84, and 3.73% were 85 years of age and older.
Racial distribution of Colfax population: 98.37% are White, 0.58% are Black or African American, 0.93% are some other race and 0.12% are multiracial.