Owning a pet now comes with a price tag that rivals a home payment.
A new study from Money.com and Healthy Paws Pet Insurance finds that the average US dog or cat owner spends more than $4,000 a year — or about $50,000 over the average 12-year period.
For most households, that’s a lot more than they bargained for. And with a At a time when the prices of everyday goods such as groceries and gas are already stretching wallets, it is an expense that is difficult to find.
Food is the biggest monthly expense
Food is the biggest line item in pet budgets, with 36% of owners spending more than $100 a month on kibble and treats alone, according to a February 2026 survey of 1,590 US dog and cat owners.
Much of that comes down to how expensive pet food is to produce, with higher ingredient, production and shipping costs all driving up prices. That cost is baked into even the cheapest kibble, and goes way up for premium products that rely on high-quality ingredients and meticulous sourcing and preservation.
However, many owners do not want to compromise on quality. According to the 2025 Dog & Cat Report from the American Pet Products Association, 41% of dog owners and 38% of cat owners are willing to pay a premium for specialty formulations and treatments that support the lifetime of their pets. In fact, that makes food one of the most difficult pet expenses to recoup.
Pet bills are high and unpredictable
Veterinary care is a pet’s second biggest expense – and the hardest to budget for.
Animal services prices have risen 43% over the past five years, according to a Financial Analysis of Bureau of Labor Statistics data.
This is driven by a combination of factors.
On the other hand, maintenance has improved. Pets now have access to specialists such as cardiologists, neurologists and oncologists, and many clinics are equipped with expensive equipment similar to what you would find in a regular hospital. At the same time, veterinarians are facing rising costs, including staff shortages and higher prices for supplies, drugs and vaccines. Others also report increasing pressure to increase profits, especially in veterinary clinics and hospitals run by private firms.
Among those surveyed by Money and Healthy Paws, 29% said they spend at least $100 a month on pet care, while a third report paying about $50 on medications and supplements.
Routine care such as exams, vaccinations and lab work can usually be scheduled. Contingencies can’t – and if something goes wrong, costs can add up quickly.
Pet owners who needed emergency care last year reported spending between $2,000 and $5,000. In contrast, nearly half (45%) of families who did not experience an unexpected health issue kept their pet care expenses under $1,000 for the entire year.
The cost of small pets is rising fast
After food and pet care, most pet spending shifts to toys and pet care services – small expenses that are easy to manage but still add up over time.
Almost half (47%) of pet owners say they spend a small amount of money on grooming in a typical month, although 15% report spending $100 or more.
Toys and enrichment, although optional, are ongoing expenses. About 58% of owners spend between $1 and $49 every month to keep their dogs and cats happy.
Pet boarding, day care and boarding take up very little space in most budgets, with the majority of pet owners (67%) reporting no monthly spending on this category. But when those costs add up, they can be significant: renting a house sitter through a platform like Rover runs an average of $45 to $75 per night — or about $375 for a five-day vacation, depending on where you stay. Doggy daycare, often used by owners who work long hours, can run anywhere from $15 to $50 a day.
How pet owners stretch their dollars
As costs rise, many pet owners are looking for ways to cut back.
For everyday expenses such as food and utilities, that often means shopping for lower prices, buying in bulk or switching to generic drugs.
But those strategies have limitations — especially when it comes to health care, which is often the most unpredictable and expensive part of pet ownership.
When faced with pet debt they can’t pay upfront, 38% of pet owners say they’ll put it on a credit card, and 20% will dip into their savings, even if it means going broke, according to the survey. Some said they would consider personal loans or payment plans, which underscores how few options there are when costs rise.
That increased reliance on debt and savings only adds to the financial strain, and the stress increases. Almost a third (31%) of pet owners say they are already spending more on their pets than last year, and 28% expect costs to continue to rise.
More for the money
Some Pet Owners Go into Debt to Pay Pet Bills. Here’s Why That’s Dangerous
Is Pet Insurance Worth It? Here’s What the Data Shows
Living Expenses for a Pet – and How to Pay for It
