Executive Financial Report: Colony (73021)
Evaluating relocation options in Washita? The financial baseline for residing in Colony, OK (73021) indicates that a single adult needs roughly $3,205 monthly to cover basic survival expenses.
With typical rent and housing utilities averaging an affordable $561 per month—just 18% of baseline expenses—Colony offers exceptionally competitive shelter costs compared to wider metropolitan averages across Oklahoma.
To maintain sustainable financial health in Colony (73021) using the popular 50/30/20 budgeting framework, your essential living expenses ($3,205/month) should not exceed 50% of your net take-home pay. Consequently, an individual needs a target gross annual salary of approximately $76,920 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 $18.49/hour just to meet basic survival costs.
For a family of four (2 adults and 2 children), basic monthly expenditures in Colony increase to $6,921 per month ($83,052/year)—approximately 2.2x 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 $67,819, local wages provide a 1.76x coverage ratio relative to single-adult baseline expenses.
Commuting and transit expenses average $1,008 monthly in 73021, coupled with $539 in healthcare baselines. Tax obligations consume $512 monthly. Local tax structures remain a steady consideration for financial planning. Use our interactive tools below to adjust these benchmarks for your specific situation.