Colfax, LA Profile: Facts & Data

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Colfax, Louisiana - Basic Facts

The Town of Colfax had a population of 1,442 as of July 1, 2020.

The primary coordinate point for Colfax is located at latitude 31.5191 and longitude -92.7068 in Grant Parish. The formal boundaries for the Town of Colfax encompass a land area of 1.49 sq. miles and a water area of 0.01 sq. miles. Grant Parish is in the Central time zone (GMT -6). The elevation is 95 feet.

The Town of Colfax (GNIS ID: 2406294) has a C1 Census Class Code which indicates an active incorporated place that does not serve as a county subdivision equivalent. It also has a Functional Status Code of "A" which identifies an active government providing primary general-purpose functions.

The Town of Colfax is located within Parish Governing Authority District 3, a minor civil division (MCD) of Grant Parish.


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Colfax, LA Data & Demographics (As of July 1, 2020)

POPULATION

Total Population 1,442 (100%)
Population in Households 1,266 (87.8%)
Population in Families 1,017 (70.5%)
Population in Group Quarters1 176 (12.2%)
Population Density 967
Diversity Index2 51
 
 

INCOME

Median Household Income $24,543
Average Household Income $39,016
% of Income for Mortgage4 13%
Per Capita Income $14,071
Wealth Index5 28
 

HOUSING

Total HU (Housing Units) 659 (100%)
Owner Occupied HU 228 (34.6%)
Renter Occupied HU 272 (41.3%)
Vacant Housing Units 160 (24.3%)
Median Home Value $73,881
Average Home Value $133,004
Housing Affordability Index3 203
 

HOUSEHOLDS

Total Households 499
Average Household Size 2.54
Family Households 319
Average Family Size 3
NOTES
  1. Group Quarters - a place where people live or stay in a group living arrangement. Includes college residents halls, nursing facilities, military barracks, and correctional facilities.
  2. The Diversity Index is a scale of 0 to 100 that represents the likelihood that two persons, chosen at random from the same area, belong to different races or ethnic groups. If an area's entire population belongs to one race AND one ethnic group, then the area has zero diversity. An area's diversity index increases to 100 when the population is evenly divided into two or more race/ethnic groups.
  3. The Housing Affordability Index base is 100 and represents a balance point where a resident with a median household income can normally qualify to purchase a median price home. Values above 100 indicate increased affordability, while values below 100 indicate decreased affordability.
  4. The % of Income for Mortgage quantifies the percentage of median household income dedicated to mortgage payments on a home priced at the median value (assuming a 30-year mortgage and a 20% down payment).
  5. The Wealth Index is based on a number of indicators of affluence including average household income and average net worth, but it also includes the value of material possessions and resources. It represents the wealth of the area relative to the national level. Values above or below 100 represent above-average wealth or below-average wealth compared to the national level.

GROWTH RATE / YEAR

2010-2020 2020-2025
Population -0.75% -0.73%
Households -0.7% -0.73%
Families -0.85% -0.89%
Median Household Income   1.79%
Per Capita Income   2.16%
Owner Occupied HU   -0.89%

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Colfax, LA - Peer Comparisons by Rank and Percentile

The table below compares Colfax to the other 474 incorporated cities, towns and CDPs in Louisiana by rank and percentile using July 1, 2020 data. The location Ranked # 1 has the highest value. A location that ranks higher than 75% of its peers would be in the 75th percentile of the peer group.

Variable Description Rank Percentile
Total Population # 239 50th
Population Density # 153 68th
Median Household Income # 440 7th
Housing Affordability Index # 222 47th
Per Capita Income # 436 8th
Diversity Index # 195 59th

Additional comparisons and rankings can be made with a VERY EASY TO USE Louisiana Census Data Comparison Tool.

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