HomeIllinoisMcLean CountyColfax village
Colfax village, Illinois: commercial real estate data.
Colfax village is a Census village of 1,054 people across 0.55 square miles of land, in McLean County. Median household income is $70,625, 71.6 percent of occupied homes are owned.
64 sourced place values · tier FULL · 8 sections · underlined figures are computed by MMCG Analytics, not published by the agency
Colfax
What Colfax is
- Census place typevillage
- Land area0.55 sq mi
- Water area0 sq mi
- Population per square mile of land1,904
- County holding the largest share of its areaMcLean County, 100.0 percent
US Census Bureau, cartographic boundary file, places, 2024 vintage. US Census Bureau, American Community Survey 5-Year Estimates, place level, 2020-2024 5-year.
Colfax
How many people live in Colfax
- Population1,054
- Median age36.3
- Population under 18288 plus or minus 66
- Share under 1827.3 percent
- Population 65 and over174 plus or minus 41
- Share 65 and over16.5 percent
- Households395
- Family households262
- Share of households that are families66.3 percent
US Census Bureau, American Community Survey 5-Year Estimates, place level, 2020-2024 5-year.
Colfax
Income and work in Colfax
- Median household income$70,625 plus or minus $15,422
- Per capita income$46,168 plus or minus $14,700
- Civilian labor force522
- Employed490
- Unemployed32 plus or minus 19
- Unemployment rate6.1 percent plus or minus 3.5
- Adults 25 and over664
- Adults 25 and over with a high school diploma or higher96.7 percent
- Adults 25 and over with a bachelor degree or higher23.3 percent plus or minus 6.2
- Adults 25 and over with a graduate degree5.4 percent plus or minus 2.9
US Census Bureau, American Community Survey 5-Year Estimates, place level, 2020-2024 5-year.
Colfax
Housing in Colfax
- Housing units419
- Occupied units395
- Vacant units24 plus or minus 29
- Vacancy rate5.7 percent plus or minus 6.9
- Owner occupied283
- Renter occupied112 plus or minus 32
- Ownership rate71.6 percent
- Median owner-occupied home value$136,300
- Median gross rent, monthly$875
- Annual rent as a share of median income14.9 percent plus or minus 4.1
- Single family units388
- Share single family92.6 percent
- Units in buildings of two or more23 plus or minus 21
- Share in buildings of two or more5.5 percent plus or minus 4.9
- Mobile homes8 plus or minus 7
- Median year structure built1952
US Census Bureau, American Community Survey 5-Year Estimates, place level, 2020-2024 5-year.
Colfax
How Colfax gets to work
- Workers 16 and over who commute429 plus or minus 89
- Commuting under 15 minutes111 plus or minus 52
- Share commuting under 15 minutes25.9 percent plus or minus 10.8
- Commuting 30 minutes or more235 plus or minus 60
- Share commuting 30 minutes or more54.8 percent
- Drove alone68.0 percent
- Carpooled15.5 percent plus or minus 7.3
- Public transport0.0 percent
- Walked4.1 percent plus or minus 3.4
- Worked from home12.4 percent plus or minus 6.3
US Census Bureau, American Community Survey 5-Year Estimates, place level, 2020-2024 5-year.
Colfax
SBA loans in Colfax (504)
- Approvals2
- Gross approval$134,000
- Average approval$67,000
- Median approval$71,000
- Largest approval$71,000
- Jobs supported5
- Loans with a final outcome1
- Charged off0
- Median term240 months
- Distinct CDCs1
US Small Business Administration, 504 FOIA release, FY2010 to FY2026 year to date, as of 2026-06-30.
Colfax
Flood risk in Colfax
- Listed NFIP communities1
- Of those, participating1
- NFIP community number170493
- Currently effective map date07/16/08(M)
This community carries no Community Rating System class, so no CRS premium discount applies to it.
FEMA, National Flood Insurance Program Community Status Book, Community Status Book, as retrieved.
McLean County, not Colfax
McLean County context, not Colfax figures
These are McLean County figures. There is no place level equivalent published for any of them, so they are shown as the county backdrop and never as Colfax measurements.
- Establishments in McLean County3,481
- Employment at those establishments, McLean County75,617
- Covered employment, McLean County88,945
- Average annual pay, McLean County$66,183
- Average weekly wage, McLean County$1,273
- Housing units permitted, McLean County243
- Of those, single family, McLean County166
- County product, 2024, McLean County$16,910,293,000
- County product change over the prior year, McLean County5.7 percent
- Average income of an arriving household, McLean County$67,848
Every figure in this section is published for McLean County as a whole and is not a measurement of Colfax. It is here because a county backdrop is what a credit committee reads a place against, and it is labelled so that it can never be quoted as the place's own.
US Census Bureau, County Business Patterns, 2023. US Bureau of Labor Statistics, Quarterly Census of Employment and Wages, 2024 annual averages. US Census Bureau, Building Permits Survey, 2024 annual. US Bureau of Economic Analysis, Regional, table CAGDP2, CAGDP2, through 2024. US Internal Revenue Service, Statistics of Income county migration flows, 2021 to 2022 filing years.
Coverage
What this page does not hold.
Every item below could be filled with a plausible figure. None of them is. On a page a lender may read, a number that cannot be traced is worse than an absence, so the absences are named.
- Parcel level detail, zoning and flood zone at an address are resolved in the platform, not on this page.
SBA figures count approvals to borrowers whose address is in the place. They are not approvals for projects inside the place boundary: the tape records a borrower city and a project county, and those can differ.
Common questions
Colfax questions, answered from the record.
How many people live in Colfax, Illinois?
1,054, in 395 households. Colfax village covers 0.55 square miles of land, which is 1,904 people per square mile. Source: US Census Bureau, American Community Survey 5-Year Estimates, place level, 2020-2024 5-year.
What county is Colfax in?
McLean County, which holds 100.0 percent of the place by area. Source: US Census Bureau, cartographic boundary file, places, 2024 vintage.
What is the median household income in Colfax?
$70,625. The median owner-occupied home is valued at $136,300. Median gross rent is $875 per month. Source: US Census Bureau, American Community Survey 5-Year Estimates, place level, 2020-2024 5-year.
Is Colfax in the National Flood Insurance Program?
Yes. Colfax appears in the FEMA Community Status Book as community 170493, with no Community Rating System class, so no CRS discount applies. Whether a specific parcel sits in a mapped special flood hazard area is an address level question the platform answers.
Are the county figures on this page Colfax figures?
No, and they are labelled so. County Business Patterns, QCEW, the Building Permits Survey, BEA product and IRS migration are published for McLean County as a whole and there is no place level equivalent. They appear in one clearly marked section as context and are never presented as measurements of Colfax.
Is zoning published for Colfax?
Not yet. The zoning layer is in build. Nothing on this page presents parcel level zoning.
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