As of Census 2010, the racial makeup of the borough was 15.9% White, 80.1% African American, 0.7% Asian, 0.6% from other races, and 2.6% from two or more races. Hispanic or Latino of any race were 1.6% of the population. 25.7% of the borough's population was foreign-born, mostly African-born. . As of the census of 2000, there were 2,453 people, 850 households, and 602 families residing in the borough. The population density was 9,600.3 people per square mile. There were 954 housing units at an average density of 3,733.7 per square mile. The racial makeup of the borough was 42.64% White, 52.14% African American, 0.12% Native American, 0.98% Asian, 0.69% from other races, and 3.42% from two or more races. Hispanic or Latino of any race were 1.63% of the population. There were 850 households, out of which 40.2% had children under the age of 18 living with them, 37.8% were married couplesliving together, 26.7% had a female householder with no husband present, and 29.1% were non-families. 24.6% of all households were made up of individuals, and 7.9% had someone living alone who was 65 years of age or older. The average household size was 2.89 and the average family size was 3.43. In the borough the population was spread out, with 33.2% under the age of 18, 9.3% from 18 to 24, 30.9% from 25 to 44, 16.8% from 45 to 64, and 9.8% who were 65 years of age or older. The median age was 31 years. For every 100 females there were 90.0 males. For every 100 females age 18 and over, there were 82.5 males. The median income for a household in the borough was $33,150, and the median income for a family was $39,861. Males had a median income of $33,125 versus $25,880 for females. The per capita income for the borough was $13,883. About 15.7% of families and 16.6% of the population were below the poverty line, including 23.1% of those under age 18 and 13.2% of those age 65 or over.
Budgetary disarray
The borough government is in financial difficulty. In May 2015, it was declared to be "financially distressed" by the state. With an annual budget of about two million dollars, the borough is more than one million dollars in debt. The local district attorney has seized financial records, although at least some from 2011, 2012, and 2013 cannot be accounted for. The local tax rate is very high; press reports indicate it to be five times higher than in richer regional towns. No new buildings have been built in Colwyn since 2007.
