Colfax County, New Mexico Income Statistics
Colfax County Wealth Score
The wealth index reflects the overall economic prosperity and financial well-being of a county's residents based on income levels, employment rates, and income inequality metrics.
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D
Colfax County Well below average
Source: Map AI Methodology
Income Statistics Overview
| Metric | Colfax County | New Mexico Avg | US Average |
|---|---|---|---|
| Median Household Income | $54,144 | $64,523 | $80,455 |
| Median Personal Income | $43,001 | $52,404 | $60,758 |
| Average Yearly Income Growth | 6.4% | 4.4% | 4.8% |
| Six-Figure Earners | 6.5% | 10.2% | 13.9% |
| $200k+ Households | 5.5% | 7.8% | 13.2% |
The median household income in Colfax County is about 16% lower than in New Mexico. Income has been growing faster in Colfax County (6.4%/yr) than in New Mexico (4.4%/yr).
About 6% of adults in Colfax County earn six figures ($100,000 or more) a year, lower than the New Mexico average of 10%.
Median Household Income 2009–2024 Trend
Median Household Income Over Time
Median household income in Colfax County, New Mexico grew by 38.0% from 2009 to 2024, reaching $54,144 in 2024. That's an average of about 6.4% per year.
Income Inequality and the Gender Pay Gap in Colfax County
| Metric | Colfax County | New Mexico Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.553 | 0.567 | 0.552 |
| Male Median Income | $50,763 | $60,037 | $69,667 |
| Female Median Income | $49,124 | $51,390 | $56,850 |
| Gender Pay Gap | 3.2% | 14.4% | 18.4% |
The Gini coefficient measures how evenly income is shared between richer and poorer households, from 0 (everyone earns the same) to 1 (one household earns nearly everything). The lower the number, the more equally income is distributed. In Colfax County, it is 0.553, lower than New Mexico's 0.567, so income is more evenly distributed here than there, and about the same as the US's 0.552, so income here is about as evenly distributed as there.
Men's income is about 3% more than women's income in Colfax County, New Mexico. Over a 35-year career, a 3% wage gap accumulates to roughly $57,365 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in Colfax County, New Mexico has narrowed from about 26% to 3% in 2024. Over that period the gap was widest at 42% in 2011. In dollar terms, the gap has narrowed by $8,292 since 2009.
Employment
| Metric | Colfax County | New Mexico Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 3.8% | 5.9% | 5.2% |
| Working from Home | 12.0% | 12.2% | 15.0% |
| Commute time (minutes) | 11 | 18 | 22 |
Approximately 189 people are unemployed in Colfax County, New Mexico.
The average commute time in Colfax County is 11 minutes, shorter than the 18 minutes in New Mexico.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Colfax County, New Mexico has fallen from 7.6% to 3.8% in 2024. Over that period the rate peaked at 11.5% in 2016 and fell as low as 3.2% in 2022.
Colfax County, NM Wealth Compared With Nearby Counties
Colfax County, NM is the 3rd largest of the 6 counties compared here, 12,320 residents against a local median of 4,149. The measure that sets Colfax County, NM apart most is unemployment: 3.8%, 33% below the local median of 5.6%. That is the better end of the local range on this measure.
Income growth tells the same story from another angle: 6.4%/yr against a local median of 4.8%/yr, 33% above it. Every measure here with a clear better direction points the same way, so Colfax County, NM is not trading one advantage for another, it reads stronger than its neighbours across the board. The counties themselves spread 11.6% on unemployment, so Colfax County, NM sits at one end of an already wide local range rather than apart from it. Colfax County, NM has the 2nd lowest unemployment of the 6 areas compared here.
| Area | Population | Median household income | Income growthAverage yearly change in median household income since 2016. Each year is measured in its own dollars, so this is growth before inflation. | Unemployment | Income inequalityGini coefficient: 0 would mean every household earns the same, 1 that a single household earns everything. The lower the number, the more equally income is shared here. |
|---|---|---|---|---|---|
| Colfax County, NM | 12,320 | $54,144 #3/6 | 6.4%/yr #3/6 | 3.8% #2/6 | 0.553 #5/6 |
| Mora County, NM | 4,149 | $54,333 | 13.5%/yr | 3.8% | 0.521 |
| Las Animas County, CO | 14,413 | $52,851 | 2.7%/yr | 5.6% | 0.539 |
| Taos County, NM | 34,542 | $59,024 | 6.7%/yr | 7.6% | 0.535 |
| Costilla County, CO | 3,607 | $37,752 | 4.5%/yr | 3.5% | 0.546 |
| Harding County, NM | 741 | $47,500 | 4.8%/yr | 15.2% | 0.592 |
Conclusion
Considering all these factors, Colfax County, New Mexico has an overall wealth index grade of D, making it about on par with New Mexico, and somewhat worse than the country as a whole.
Frequently Asked Questions
Common questions about income and wealth in Colfax County, New Mexico.
How Rich Is Colfax County, New Mexico?
Colfax County has a wealth index grade of D. The wealth index grades areas from A+ (best) to F- by combining income levels, employment rates, and income inequality; a D grade means residents are somewhat worse off than the U.S. average. The median household income is $54,144, about 16% lower than the New Mexico average of $64,523.
How fast is household income rising in Colfax County, New Mexico?
Between 2009 and 2024, the median household income in Colfax County, New Mexico rose 38%, from $39,222 to $54,144. Over the same years, income here lagged behind New Mexico as a whole: +38% against +50%.
What was the median household income in Colfax County in 2023?
In 2023, the median household income in Colfax County, New Mexico was $52,519, up 13% from $46,515 in 2022. The New Mexico median that year was $62,406.
What was the median household income in Colfax County in 2020?
In 2020, the median household income in Colfax County, New Mexico was $37,946. By 2024 it had risen 43% to $54,144.
How strong is the job market in Colfax County, New Mexico?
Unemployment in Colfax County, New Mexico is only 3.8%, well below the New Mexico rate of 5.9%, a sign of a tight labor market where employers compete for workers.
What is the Gini coefficient in Colfax County, New Mexico?
The Gini coefficient in Colfax County is 0.553. It measures income inequality on a scale from 0 (everyone earns the same) to 1 (one household earns everything). That is almost the same as the US average of 0.552, so income is distributed about as equally as in the country overall.
How has the income gap between men and women changed in Colfax County, New Mexico?
Since 2009, the income gap between men and women in Colfax County, New Mexico has narrowed from about 26% to 3% in 2024. Over that period the gap was widest at 42% in 2011. In dollar terms, the gap has narrowed by $8,292 since 2009.
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