The Price Of Pets Ownership Going Up Too
Written by Tariq on May 28, 2026
A new Bank of America Institute analysis finds, pet ownership is increasingly becoming more expensive. As costs, including veterinary care, go up, there has been a pullback on pet adoption rates and pet ownership, which may signal that affordability is playing a larger role among animal lovers, the Bank of America Institute said. The U.S. pet market is still steadily growing, though at a slower pace, with 95 million households owning a pet (or around 71% of Americans). Spending for pets hit $158 billion in 2025, according to the National Pet Owners Survey by the American Pet Products Association, cited in the Bank of America analysis. Dog ownership is ahead of other pets at 68%, according to a survey from CivicScience. Cats were the second most popular pet at 46%, while ownership of fish, birds and small mammals was less common.
Source: USA Today
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