Colfax County, New Mexico Housing Market Prices
Colfax County Home Prices and Rent at a Glance
The median home price (often called the average home price), rent costs, affordability metrics, and housing stock characteristics for this housing market.
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Median home price 78% above the New Mexico median Among the 3 most expensive counties in New Mexico$364,246
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Median rent 32% below the New Mexico median Cheaper than 81% of counties in New Mexico$728
Median Home Price Map: Nearby Counties
Housing Market Overview
| Metric | Colfax County | New Mexico Avg | US Average |
|---|---|---|---|
| Median Home Price | $364,246 | $204,122 | $248,835 |
| Price Trend (Annual %) | 13.9% | 3.1% | 7.5% |
| Median Gross Rent | $728 | $1,067 | $1,407 |
| Rent Trend (Annual %) | 2.8% | 3.8% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Colfax County is about 78% higher than in New Mexico. Rent is about 32% lower than the New Mexico average.
Median Home and Rent Price Trends
Median Home Prices, 2015-2024
Median Rent Prices, 2015-2024
Both home prices and rent are rising in Colfax County, up about 13.9% and 2.8% a year respectively. Home prices are changing faster.
Median rent in Colfax County rose about 24.3% between 2015 and 2024, from $586 to $728. Over the same span, rent in New Mexico rose about 37.3%.
Affordability
On average, housing unit costs 6.7 yearly household incomes in Colfax County.
Buying the median-priced home in Colfax County costs roughly 41.7 years of rent at the median monthly rate. That is a relatively high price-to-rent ratio, which tends to favor renting over buying in Colfax County. The price-to-rent ratio in New Mexico is about 15.9.
| Metric | Colfax County | New Mexico Avg | US Average |
|---|---|---|---|
| Median Home Price | $364,246 | $204,122 | $248,835 |
| Median Household Income | $54,144 | $64,523 | $80,455 |
| Price-to-Income Ratio | 6.7 | 3.2 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2024, the median home price in Colfax County rose about 174.9%, while median household income rose about 19.2% between 2009 and 2025 — the home price grew faster than income.
Income Growth vs Housing Cost Growth (Year-over-Year %)
Compare income and housing cost trends.
Occupancy & Tenure
| Metric | Colfax County | New Mexico Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 40.1% | 61.3% | 58.5% |
| Rental Rate | 15.8% | 26.2% | 31.2% |
| Vacancy Rate | 44.1% | 12.5% | 10.2% |
| Median Tenure (years) | 16.0 | 16.0 | 15.0 |
| Median Year Moved In | 2010 | 2010 | 2011 |
Colfax County has a homeownership rate of 40.1%, lower than the New Mexico average of 61.3%. Its housing vacancy rate is 44.1%, compared with 12.5% in New Mexico.
Housing Stock
| Metric | Colfax County | New Mexico Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.17 people | 2.49 people | 2.53 people |
| Median Structure Built Year | 1969 | 1983 | 1978 |
| Median Number of Rooms | 5.1 | 5.3 | 5.5 |
The typical housing unit in Colfax County was built around 1969. On average, 2.2 people live in a home with about 5.1 rooms, staying for about 16.0 years on average.
Colfax County, NM Housing Compared With Nearby Counties
How Colfax County, NM compares with the 1 counties closest to it.
| Area | Population | Median home price | Median rent | Homeownership |
|---|---|---|---|---|
| Colfax County, NM | 12,320 | $364,246 #1/2 | $728 #2/2 | 71.8% #2/2 |
| Taos County, NM | 34,542 | $333,329 | $1,034 | 77.6% |
Frequently Asked Questions
Common questions about the housing market in Colfax County, New Mexico.
What is the median home price in Colfax County, New Mexico?
The median home price in Colfax County, New Mexico is $364,246, higher than the New Mexico average of $204,122.
What is the average home price in Colfax County, New Mexico?
The typical home price in Colfax County, New Mexico, reported as the median sale price, is $364,246. The median is used instead of a mathematical average because it is not skewed by a small number of very expensive or very cheap homes, so it better reflects what a typical buyer pays.
What is the median rent in Colfax County, New Mexico?
The median gross rent in Colfax County, New Mexico is $728 per month, lower than the New Mexico average of $1,067.
What was the median gross rent in Colfax County in 2020?
In 2020, the median gross rent in Colfax County, New Mexico was $633 per month.
What is the price-to-rent ratio in Colfax County, New Mexico?
The price-to-rent ratio in Colfax County, New Mexico is about 41.7, meaning it would take roughly 41.7 years of rent payments at the median rent to equal the median home price. That is a relatively high price-to-rent ratio, which tends to favor renting over buying in Colfax County.
Are home prices or rent rising faster in Colfax County, New Mexico?
Both home prices and rent are rising in Colfax County, up about 13.9% and 2.8% a year respectively. Home prices are changing faster.
What is the homeownership rate in Colfax County, New Mexico?
40.1% of households in Colfax County, New Mexico own their home, lower than the New Mexico average of 61.3%.
What is the vacancy rate in Colfax County, New Mexico?
The housing vacancy rate in Colfax County, New Mexico is 44.1%, higher than the New Mexico average of 12.5%.
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