Executive Financial Report: Rangely (81648)
Navigating the local economic landscape in Rangely (81648) reveals an average baseline monthly living cost of approximately $3,173 for a single adult. This comprehensive benchmark reflects essential housing, nutrition, tax, and medical commitments.
With typical rent and housing utilities averaging an affordable $679 per month—just 21% of baseline expenses—Rangely offers exceptionally competitive shelter costs compared to wider metropolitan averages across Colorado.
To maintain sustainable financial health in Rangely (81648) using the popular 50/30/20 budgeting framework, your essential living expenses ($3,173/month) should not exceed 50% of your net take-home pay. Consequently, an individual needs a target gross annual salary of approximately $76,152 to cover necessities while building savings. On an hourly basis, working a standard 2,080-hour work year requires a minimum hourly living wage of $18.30/hour just to meet basic survival costs.
For a family of four (2 adults and 2 children), basic monthly expenditures in Rangely increase to $6,395 per month ($76,740/year)—approximately 2.0x higher than the single-adult baseline. Childcare premiums and multi-bedroom housing represent the largest contributors to this family budget increase. Compared against the area median family income of $77,894, local wages provide a 2.05x coverage ratio relative to single-adult baseline expenses.
Commuting and transit expenses average $1,014 monthly in 81648, coupled with $335 in healthcare baselines. Tax obligations consume $495 monthly. Local tax structures remain a steady consideration for financial planning. Use our interactive tools below to adjust these benchmarks for your specific situation.