Colfax County, New Mexico Housing Market
In Colfax County, New Mexico, the median home value is $167,200, with a median monthly rent of $729. This places Colfax County at #1859 nationally out of 3134 counties by median home value, and #17 within New Mexico.
📈 Price Trend (2017 → 2024)
📊 Recent Market Momentum (FHFA HPI)
FHFA House Price Index — All-Transactions, Annual (2000 = 100) · Latest: 2025
📍 Economic Snapshot
Employment & Wages
- Avg weekly wage: $730
- Establishments: 436
- BLS QCEW, 2025
Migration Patterns
- Inflow: 5,047 (avg $57,926)
- Outflow: 4,459 (avg $55,630)
- IRS Statistics of Income
📍 Sub-Market Activity
Top 2 active ZIP codes in Colfax County · Latest: 2025
| # | ZIP Code | HPI | YoY Change | Latest Year |
|---|---|---|---|---|
| 1 | 87710 | 316.8 | — | 2024 |
| 2 | 87740 | 219.4 | -1.01% | 2025 |
Source: FHFA HPI for Five-Digit ZIP Codes (All-Transactions Index, 2000 = 100).
This product uses FHFA Data but is neither endorsed nor certified by FHFA.
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💰 Mortgage Guide → 🧾 Property Tax Data →How Colfax County Compares
| Metric | Colfax County | New Mexico Average | U.S. Average |
|---|---|---|---|
| Median Home Value | $167,200 | $192,727 | $227,706 |
| Median Gross Rent | $729 | $904 | $968 |
| Owner Occupancy Rate | 71.8% | 74.2% | 73.3% |
| Price/Rent Ratio | 19.1 | 17.7 | 18.7 |
Market Analysis
The median home value in Colfax County is 13.2% below the New Mexico state average and 26.6% below the U.S. national average. The median rent of $729/month is 19.4% below the state average.
With a price-to-rent ratio of 19.1, the buy-vs-rent decision in Colfax County is balanced. Whether buying or renting makes more sense depends on your time horizon, down payment capacity, and local market conditions.
Colfax County has an owner-occupancy rate of 71.8%, compared to 74.2% in New Mexico and 73.3% nationally. This indicates a more renter-heavy market than the U.S. average.
Similar Counties by Home Value
| County | State | Median Home Value | Median Rent |
|---|---|---|---|
| Sheridan County | Kansas | $167,200 | $689 |
| Etowah County | Alabama | $167,100 | $847 |
| Catron County | New Mexico | $167,000 | $736 |
| Tazewell County | Illinois | $167,500 | $909 |
| Pulaski County | Kentucky | $166,900 | $803 |
Other Counties in New Mexico
| County | Median Home Value | Median Rent | Owner Occ. |
|---|---|---|---|
| Catron County | $167,000 | $736 | 93.8% |
| Curry County | $171,200 | $1,024 | 62.7% |
| Otero County | $162,700 | $962 | 67.0% |
| Torrance County | $159,700 | $872 | 81.7% |
| Grant County | $175,600 | $825 | 75.8% |
Data Source: U.S. Census Bureau, American Community Survey (ACS) 2024 5-Year Estimates (2017–2024). Variables: B25077 (Median Home Value), B25064 (Median Gross Rent), B25003 (Tenure). Data collected on 2026-10-14. The price-to-rent ratio is calculated as Median Home Value ÷ (Median Monthly Rent × 12).