Pet Ownership in 2025

A quick scroll of social media makes one thing clear: Americans love their pets. But adorable pics and videos aren’t the only expressions of pet parents’ love. U.S. pet owners also spend lavishly on their furry friends — with an expected pet-related expenditure of more than $150 billion this year. That nearly triples the figures from 10 years ago.^[1]

This pet-spending boom is leading to growth in related industries, like pet insurance and veterinary care. In this article, we’ll explore pet ownership by the numbers, pulling out some of the most interesting facts and figures.

Key facts about pet ownership

Before we dive in, the following statistics provide a useful summary of general pet ownership trends in 2024:

• Two-thirds of American households own a pet, with ownership spiking during the pandemic in 2020.

• Nearly one-third of all U.S. pet owners are millennials.

• Some demographic data may help predict if someone owns a pet. For instance, women are more likely to be pet owners than men.

• The average American dog owner spends $2,351 per year on their dog, while the average cat owner spends $1,443 per year.

• The average vet visit costs $147 in 2024.

• Dog owners spend $676 per year on pet insurance, while cat owners spend $383.

• The number of pet owners with pet insurance grew by 17% in 2023.

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Pet owners

The number of households that own a pet has risen steadily since the ‘90s. Currently, about 87 million U.S. families own a pet. And these pets mean a lot to their owners, with a recent study from the Pew Research Center finding that 97% of households see their pet as “part of the family.”^[2]

A person’s demographic profile may predict whether they’re more likely to be a pet owner. For instance, recent studies have found that women are more likely to be pet owners than men. Meanwhile, household income doesn’t appear to be a major predictor of whether or not a family owns a pet.

Pet ownership by generation

Pet ownership does vary somewhat by generation. In 2024, nearly one-third of all pet parents in the U.S. are millennials. They’re followed by Gen X (27%), baby boomers (24%), and Gen Z (16%).^[3]

Many trend pieces over the years have theorized why millennials like animals so much — particularly dogs. As the generation currently buying first homes and starting families, it’s only natural that pet ownership is spiking among this age group. Meanwhile, Gen Z-ers want pets but don’t yet have the space to accommodate them.

How much it costs to own a pet

Last year, pet owners spent $147 billion on their pets — and that number is expected to cross $150 billion in 2024. Most pet ownership costs go toward vet costs, food and treats, grooming, and pet insurance.

How much it costs to own a dog

Dogs need more expensive food, vet care, toys, and pet insurance, contributing to the high ownership cost. Dog owners spend an average of $2,351 per year on their furry friends. Below is the breakdown of the average yearly dog-related expenses.

How much it costs to own a cat

Wondering why cats always act so superior to dogs? It might be because they know they’re the more affordable pet choice. Cat owners spend an average of $1,443 per year on their beloved felines. Here’s a breakdown of the average cat-related expenditures.

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The most pet-friendly cities in America

While you’ll find pets across the U.S., a few cities stand out as particularly pet-friendly. We’ve compiled some city-specific pet data to find the most dog-friendly and cat-friendly cities in the U.S.

Best cities for dog owners

Easy access to parks and quality vet care make dog ownership much easier. The table below highlights some of the most dog-friendly cities in the U.S.

Best cities for cat owners

A wide range of cat-friendly rentals makes cat ownership easy, and having a cat cafe nearby doesn’t hurt either. The table below highlights some of the most cat-friendly cities in the U.S.

Pet insurance statistics

As American pet ownership booms, more and more people are purchasing pet insurance. The following statistics give a closer look at how pet insurance is growing and how much pet owners are spending on it. We’ve also included vet care costs, which may offer helpful context as you consider the usefulness of pet insurance.

The percentage of insured pets rose by 17% in 2023

The number of pet insurance policies has seen a significant increase this decade. Since 2020, the amount of insured pets in the U.S. has grown by over 20% each year. Only 3.1 million pets were insured in 2020, compared to 5.7 million last year.

Man’s best friend is also the insurer’s best friend, with dogs making up 78.6% of all insured pets. Cats make up 21.4%.^[4]

Accident and illness insurance costs an average of $676 per year for dogs and $383 per year for cats

Accident-only premiums are much lower, at $204 per year for dogs and $116 per year for cats. As the stats in the sections below show, dog owners generally pay higher vet visit bills, which is why pet insurance for dogs tends to be higher than pet insurance for cats.^[5]

Connecticut and New York have the highest dog insurance costs

Pet insurance varies by state based on local veterinary costs and pet ownership trends. Pet owners in Connecticut pay an average annual dog insurance premium of $981, while New York pet owners pay $918 per year. Meanwhile, Arkansas, Iowa, and New Mexico are the three cheapest states when it comes to annual dog insurance rates.

Northeast states generally have the most expensive cat insurance

Cat insurance tends to run cheaper than dog insurance. Still, of the 11 states with an average annual cat insurance premium above $500, seven are in the Northeast of the U.S. Massachusetts, Connecticut, and New Hampshire are just a few of the states that see higher cat insurance premiums. Naturally, they also have some of the highest average vet visit costs.

The average vet visit cost is $147 in 2024

While that may sound steep, it’s actually a $43 decrease from the average vet visit in 2023. Vet visits for dogs cost more ($214 per visit) than vet visits for cats ($138 per visit). Nearly 80% of these vet visits were for routine care or checkups. Spending went down in this category largely because more pet owners opted to skip annual checkups in 2024.^[6]

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Dog owners spent an average of $580 total on vet care in 2024

Spending on vet care for dog owners decreased by 7% from 2023 totals. Meanwhile, cat owners’ yearly vet care expenditure hit an average of $433 in 2024, which was a 6% increase over 2023 spending. Still, a quarter of cat owners last year reported no spending on vet care as they decided to skip certain routine care appointments.

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