Total monthly cost of ownership
Cost to Own a Home in Colfax, Louisiana
A $82,000 home here costs
$776per month, all in — with 20% down at today's 6.66% 30-year fixed rate.
A standard mortgage calculator would have told you $422. The real number is $354 higher every month — 84% more than the payment most buyers budget for.
Where every dollar goes
Only the first line is a mortgage payment. Change any assumption above and every figure below recalculates.
Colfax against Grant Parish and Louisiana
| Measure | Colfax | Grant Parish |
|---|---|---|
| Median home value | $82,400 | $135,900 |
| Median property tax | $199 | $864 |
| Effective tax rate | 0.242% | 0.636% |
| Median gross rent | $582 | $806 |
| Population | 1,442 | 22,123 |
The weather behind that power bill
Colfax sits in Grant Parish, which averages a high of 93.5°F in its hottest month and a low of 38.9°F in its coldest, with 54.55" of precipitation a year and 28% of it in a single three-month stretch. That climate drives 2,619 cooling and 1,892 heating degree days, which is what sets the $127 electricity line above.
See the full climate breakdown for Grant Parish — month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Grant Parish
No other places of this size are published in Grant Parish.
Full Grant Parish cost breakdown · Every county in Louisiana
Common questions
How much does it cost to own a home in Colfax?
A $82,000 home in Colfax, Louisiana costs approximately $776 per month with 20% down at 6.66%. That is $422 principal and interest, $17 property tax, $74 homeowners insurance, $195 utilities and $68 set aside for maintenance.
What is the property tax rate in Colfax?
Colfax has an effective property tax rate of 0.242%, based on a median home value of $82,400 and median real estate taxes of $199. That is lower than the Grant Parish average of 0.636%.
What is the average home price in Colfax?
The median owner-occupied home value in Colfax, Louisiana is $82,400, against $135,900 across Grant Parish.
Is it cheaper to rent or buy in Colfax?
Median gross rent in Colfax is $582 a month, against $776 to own the median home all in. Renting costs less month to month here, though renting builds no equity.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for Colfax — US Census Bureau, American Community Survey ACS 2023 5-Year, place-level tables.
- Homeowners insurance — NAIC average premium for Louisiana.
- Electricity price — EIA Electric Power Monthly Table 5.6.A.
- Mortgage rate — Freddie Mac PMMS, refreshed weekly.
- Maintenance (1%/yr) and water and sewer ($68/mo) are national estimates. Every assumption above is editable.