Legislative Council Staff ∙ 200 E. Colfax Ave, Room 029 ∙ Denver CO 80203
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included are based on the latest Consumer Expenditure Survey for this type of household,
prepared by the U.S. Bureau of Labor Statistics. Table 1 illustrates the composition of those
purchases in broad categories. Housing is the largest category of spending at 33.4 percent of
household income, followed by goods and services at 26.7 percent. Transportation accounts for
18.5 percent of spending, and other items represent 21.4 percent.
Table 1
Market Basket for Benchmark Household Earning $63,882
Expenditure Category Items Included
Share of
Income
Spending
Amount
Housing
Mortgage or rental payment, property taxes,
interest, home insurance, utilities, household
expenses
33.4% $21,313
Goods and services
Food at home, food away from home,
apparel, entertainment, heath care, alcohol,
cigarettes, personal care products, sales taxes
26.7% $17,011
Transportation
Car payment, gasoline, vehicle insurance, car
maintenance and repairs
18.5% $11,814
Other
Charitable donations, savings, life insurance,
federal and state income taxes
21.4% $13,684
TOTAL 100.0% $59,834
Vendors. For the 2023 study, Legislative Council Staff contracted with two private vendors to
provide data for computing the cost of a constant market basket in each school district. Corona
Insights provided data on goods and services, transportation, income taxes, and housing, with
the exception of home values. Prices for most retail goods and services were obtained by
making phone calls to individual businesses and visiting the websites of selected retailers. Retail
outlets were selected for price sampling based on estimated market share. Prices for most bills
were collected from information provided in government publications, other publically available
data, and through municipal authorities. Housing value data were provided by Wildrose
Appraisal, Inc. and forwarded to Corona by Legislative Council Staff. Corona then computed the
total cost of the market basket in each district.
Housing costs. Housing costs include mortgage costs of principal and interest, property taxes,
homeowner's insurance (PITI), as well as the cost of utilities, maintenance, household supplies
and operations, and household furnishings. PITI costs are based on the value of a 1,500 square-
foot house in each school district. Estimates of housing rental costs were also included.
Housing costs account for just over 33 percent of expenditures in a three-person household
with an income of $63,822.