1st Advantage MortgageColfax County households have a median income of $53,554 and median rent of $729 a month (ACS 2020 to 2024). Those figures describe the county, not you: compare at least three written offers by APR and total cost, and confirm the lender's license before you apply.
On this page
- Colfax County, NM: the basics
- Work, industries and travel time in Colfax County
- How much Colfax County households make
- Colfax County housing compared with New Mexico
- Counties near Colfax County
- The communities that make up Colfax County
- People and households in Colfax County
- What the numbers mean for Colfax County borrowers
- What a median Colfax County budget can carry
- Checklist for Colfax County applicants
- Lender oversight for Colfax County
- Nearby and statewide guides
- Frequently asked questions
Colfax County, NM: the basics
With an estimated 12,322 residents (ACS 2020 to 2024), Colfax County ranks 24th of 33 in New Mexico for population. Land area is 3,758 square miles (2024 Gazetteer), so density runs near 3 per square mile. It sits outside every metropolitan statistical area in the July 2023 OMB delineation. Raton is the biggest of its 7 Census places, at roughly 6,026 people (49% of the county total).
Work, industries and travel time in Colfax County
Education and health care employs 21% of working residents, the largest share; retail trade is next with 15%. Other services stands out: 10% of workers here, versus 5% statewide. The survey's unemployment rate for Colfax County averages 3.8% over 2020 to 2024 (state: 6.0%). Long commutes are the exception here: 11% of workers spend 45 minutes or longer getting to work.
| Top industries | Colfax County share | +/- vs New Mexico |
|---|---|---|
| Education and health care | 21.1% | -4.6 pts |
| Retail trade | 14.9% | +4.2 pts |
| Arts, lodging and food service | 12.7% | +2.7 pts |
| Other services | 10.1% | +5.0 pts |
| Professional and administrative services | 9.5% | -3.4 pts |
| Public administration | 6.1% | -1.2 pts |
Industry shapes paperwork. Salaried and public jobs are easy to verify, while hourly, tipped, commission or contract earners in Colfax County should have bank statements and tax returns ready.
How much Colfax County households make
Colfax County households have a median income of $53,554 (ACS 2020 to 2024), which ranks 16th of 32 in New Mexico.
| Income band | Share in Colfax County | Difference from New Mexico |
|---|---|---|
| Under $35,000 | 34.0% | +5.4 pts |
| $35,000 to $99,999 | 46.1% | +5.6 pts |
| $100,000 to $199,999 | 14.3% | -8.7 pts |
| $200,000 or more | 5.5% | -2.3 pts |
The spread is wide: 20% of Colfax County households make $100,000 or more, and 34% make less than $35,000. 18.2% of residents fall below the federal poverty line (statewide: 17.8%). The Gini index of income inequality is 0.461 (0 is perfect equality). If your income is irregular, as it often is with tips, gig work or seasonal jobs, plan around your leaner months rather than the Colfax County median.
Colfax County housing compared with New Mexico
Renters in Colfax County pay a median of $729 a month, 32% below the New Mexico figure of $1,067. By the Census definition, 47% of Colfax County renters are cost-burdened. The median owner-occupied home is valued at $167,200, about 3.1 times the median household income. 72% of Colfax County households own their home and 28% rent. Half the housing stock was built before 1977.
| Cost | Colfax County | New Mexico figure | Median county, U.S. |
|---|---|---|---|
| Median gross rent | $729/mo | $1,067/mo | $877/mo |
| Median home value | $167,200 | $248,100 | $185,300 |
| Owners | 72% | 70% | 75% |
| Rent-burdened renters | 47% | 50% | 45% |
| Burdened owners | 39% | 29% | n/a |
| Vacant units | 44% | 12% | n/a |
Counties near Colfax County
Mora County is closest, 46 miles from center to center; the sixth, Harding County, is 68 miles off. 2 of the six report a higher median household income than Colfax County; Taos County is highest at $58,950 and Costilla County lowest at $36,861. Some neighbors are in Colorado. Lender licensing is state by state, so a loan for a Colfax County resident follows New Mexico rules.
| Nearby county | Center to center | Household income | Gross rent | Owner-occupied |
|---|---|---|---|---|
| Colfax County | - | $53,554 | $729/mo | 72% |
| Mora County, NM | 46 mi | $53,663 | $887/mo | 87% |
| Taos County, NM | 55 mi | $58,950 | $1,034/mo | 78% |
| Las Animas County, CO | 59 mi | $52,074 | $891/mo | 69% |
| Costilla County, CO | 63 mi | $36,861 | $927/mo | 79% |
| Union County, NM | 65 mi | $46,694 | $683/mo | 72% |
| Harding County, NM | 68 mi | $48,553 | $1,038/mo | 77% |
The communities that make up Colfax County
Here are the 7 most populous of the county's 7 Census places, with income and rent from the same 2020 to 2024 survey. About 78% of Colfax County residents live in one of the 7. Among places of 500 or more people, median income runs from $41,324 in Cimarron to $107,554 in Angel Fire. Median rent ranges from $501 in Springer to $1,052 in Angel Fire. Live in one of these Colfax County communities, or between them? This is your local guide.
| Place in county | Status | Population (ACS) | Median HH income | Monthly rent | Distance from center |
|---|---|---|---|---|---|
| Raton | city | 6,026 | $52,641 | $741 | 22 mi |
| Angel Fire | village | 1,111 | $107,554 | $1,052 | 38 mi |
| Springer | town | 1,017 | $50,345 | $501 | 17 mi |
| Cimarron | village | 701 | $41,324 | $625 | 17 mi |
| Eagle Nest | village | 451 | $57,692 | $894 | 35 mi |
| Maxwell | village | 331 | $31,667 | $605 | 7 mi |
| Ute Park | CDP | 0 | n/a | n/a | 26 mi |
People and households in Colfax County
College graduates make up 25% of the adult population. 10.1% of residents have no health coverage.
| People and households | Colfax County | New Mexico | Median county |
|---|---|---|---|
| Median age | 49.1 | 39.4 | 41.5 |
| Bachelor's or higher | 25.4% | 31.0% | 22.2% |
| No high school diploma | 9.7% | 12.0% | n/a |
| No health insurance | 10.1% | 9.6% | 7.8% |
| No vehicle | 6.6% | 5.6% | 5.4% |
| Work from home | 12.0% | 12.2% | 8.7% |
| Poverty rate | 18.2% | 17.8% | 13.2% |
| Unemployment (ACS) | 3.8% | 6.0% | 4.4% |
| Travel time to work | Workers |
|---|---|
| Under 15 min | 66.3% |
| 15 to 29 min | 13.3% |
| 30 to 44 min | 9.0% |
| 45 to 59 min | 3.7% |
| 60+ min | 7.7% |
What the numbers mean for Colfax County borrowers
What the Colfax County figures suggest, and what to check first:
- Health costs. With 10% of the county uninsured, an interest-free hospital payment plan usually beats a loan (medical bills).
- 14% mobile homes. Many are not titled as real estate, so home-equity options may not apply; an unsecured loan is the usual route.
- Fixed incomes. Colfax County's median age is 49.1. Social Security and pensions count as income when documented.
- Free help first. 18% of residents live below the poverty line; utility, rent and food programs cost nothing to repay (free options).
What a median Colfax County budget can carry
How much room does a median Colfax County budget have? Take median income, subtract median rent, and check what is left under a few common debt-to-income limits.
- Start: $4,463 gross per month ($53,554 / 12)
- Less median rent of $729, which is 16% of it
- $878: what a 36% ratio leaves once rent is paid
Subtract what you already pay on other debts. A new payment should fit in what remains, with some to spare.
Checklist for Colfax County applicants
Before you apply, wherever you live in Colfax County:
- Get a written quote for whatever you are paying for in Colfax County.
- Shop at least three lenders, including one Colfax County-area credit union.
- Look the lender up with the state regulator first.
- Confirm the first due date before setting up autopay.
Lender oversight for Colfax County
The New Mexico Financial Institutions Division is the place to verify any lender's New Mexico license. Problems with a lender can also go to the CFPB. Statewide data and rules: New Mexico guide.
Nearby and statewide guides
For statewide rules and data, see the New Mexico guide.
Frequently asked questions
What is the median household income in Colfax County?
$53,554 a year in the 2020 to 2024 Census survey, versus $64,059 for New Mexico. It ranks 16th of 32 in the state.
What do renters pay in Colfax County?
$729 a month at the median, about 16% of median household income.
Does this page cover Raton?
Yes, along with the other 6 Census places in Colfax County, such as Angel Fire, Springer, Cimarron.
Does my county matter to the questionnaire?
Only your state does. Whether you live in Colfax County or elsewhere in New Mexico, the same rules apply.
Where can someone in Colfax County check a lender's license?
With the New Mexico Financial Institutions Division. If a lender is unlicensed or asks for a fee before funding, walk away.