Executive Financial Report: Randolph (55065)
Evaluating relocation options in Dakota? The financial benchmark for residing in Randolph, MN (55065) indicates that a single worker needs roughly $3,316 monthly ($39,792.65 annually) to maintain an adequate standard of living.
Shelter expenses in Randolph occupy a healthy and balanced 29% share of monthly expenditures, averaging $954 per month for rent and utility baselines. This moderate allocation provides residents with sufficient budget elasticity to cover transportation, healthcare, and personal savings goals.
Local earnings in Randolph (55065) demonstrate strong purchasing power. The area median family income of $107,341 significantly exceeds the annual baseline living threshold ($39,792.65) by a ratio of 2.70x. This economic buffer allows local households to comfortably absorb inflationary spikes and build long-term wealth.
Tax obligations represent roughly 15% ($502/month) of baseline monthly spending in zip code 55065. State and federal tax obligations form a consistent component of monthly financial planning. Meanwhile, essential groceries average $290 monthly for single adults.
In summary, living in Randolph, MN requires balancing local real estate conditions with prevailing regional wage structures. Use the interactive calculator below to adjust these benchmarks for multi-person family households or compare 55065 against other US destinations.