How Much is a Horse? The Lifetime Costs of Horse Ownership

We’ve all heard the jokes. “A horse is a boat that eats”. “A horse is a bottomless money pit.” “Oh, you own a horse? Thank goodness for daddy’s money!” But…how much is a horse, really?

The answer is not simple because there are so many factors that play into a horse ownership. Here, we’ll attempt to break down the major categories and provide some budget ranges so that you know what you’re getting into. We’ll also talk about the lifetime cost of owning a horse (prepare for some sticker shock)!

How Much is a Horse? Major Expense Categories

There are many ways to approach horse ownership. We’ve all seen the glamorous, high society folks with bottomless budgets who keep their horses in the best stables, pay for training from world-class instructors, jet around the world for competitions, and import horses from exotic locales. On the flip side, we all know a backyard horse enthusiast who does not pay for training or lessons and manages to feed their horse despite having $0.82 in their bank account.

Of course, there are owners in the middle of this spectrum, as well. With so many approaches to horse ownership, nailing down the specific costs can be tricky. With that in mind, familiarizing yourself with the expense categories is a foundational step to creating your horse budget. Once you know the major categories, you can research costs in your area to come up with some actual numbers.

Purchase/Acquisition of a Horse

Cost: FREE – hundreds of thousands of dollars+ (one time)

The actual purchase is a cost that looms large in many prospective buyer’s minds. But as many owners will say, it’s the smallest piece of the puzzle.

Prices will vary substantially depending on many factors, including (but not limited to):

• Age
• Breed
• Bloodlines
• Training
• Show experience
• Medical conditions
• Behavioral conditions
• Risk factors
• Genetics
• Conformation
• Temperament
• Color/markings
• The geographic area

To complicate matters further, owners name their prices – and some owners have extreme ideas about what their horses are worth. The best way to go about finding a horse is to determine your purchase budget, set your criteria (including any red flags or deal breakers), and then start your search to see what you can find.

And yes, there are “free” horses out there – but free horses usually come with a cost, such as a severe medical problems, severe behavioral problems, or other factors that make them undesirable. There are very few cases where it makes sense to take a free horse.

Board

Cost: FREE – $1500+ per month

Board is the next major expense that you need to account for. After all, your horse will need somewhere to live.

In most areas, there are a myriad of boarding options at many different price points. If you own land or can work out an arrangement with a friend or family member, your board can essentially be “free” (outside of the cost of maintaining the land or doing some work in exchange for your friend or relative). Realistically, though, you’ll be paying to keep your horse somewhere.

In many states, you’ll find board in the mid to high $100s range (per month). Fancier stables will charge $1000+. Remember that the stated rates are often BASE rates, meaning you may need to pay extra for services like turn out, feeding, hay, and more. Partial or full care costs can vary, so be sure to ask what is included before committing to a particular board arrangement.

Feed/Hay

Cost: $100-$200+ per month

Horses are large animals, so naturally, they eat a lot. Horses are commonly on a diet of hay since they’re grazing animals, but many owners feed their horses grain, pellets, and supplements as well. This is especially true for athletic horses that need some extra fuel. A healthy horse should be consuming 1 to 2 percent of its body weight in hay (or forage, such as grass) per day. Horses that are still growing, working, or pregnant should receive grain, as well.

Note that your horse’s diet will change with age. Older horses may need supplements to remain comfortable and healthy. Your horse’s diet may fluctuate over time depending on their activities and overall health.

Routine Vet Care

Cost: $300-$600 per year

Even the healthiest of horses need vet care on a regular basis. Routine cares include deworming, getting a fecal count, having an overall health check, and receiving vaccinations, if needed. You may need to pay for other services, such as a Coggins test or a health certificate, if your horse is traveling.

Routine vet care is essential for understanding your horse’s overall health, so you don’t want to skimp on this important spending category.

Dental Care

Cost: $300-$600 per year

When asking yourself “how much is a horse?”, you can’t forget about dental care. Horses need their teeth floated once or twice per year. During this process, a specialist files their teeth down to even out the hose’s bite. This prevents discomfort while chewing and eating, so it’s essential for helping your horse stay healthy.

Farrier/Hoof Care

Cost: $300-$1000+ per year

You may have heard people say things like “a horse is only as good as its hooves”. It’s true that your horse’s hooves play a major role in their athleticism and comfort. Therefore, you need to plan ahead for hoof care. Shoeless horses will need hoof trims, and shod horses need their shoes replaced along with hoof trims on a regular basis. You should plan on having a farrier visit every 4-6 weeks to take care of your horse’s hooves.

Training/Lessons

Cost: $3000-$5000+ per year

Some owners will have no problem riding and training on their own. They’ll thrive with minimal input from a trainer and manage to achieve their riding goals without help. However, many horse owners opt for training and coaching to keep their skills sharp. Guidance from a knowledgeable third party is incredibly valuable, so if training or lessons is in your budget, you should make the investment.

The good thing about spending on training and lessons is that, in most cases, you can dial back in this spending category if needed. However, some barns will only allow you to board if your horse is enrolled in one of their programs, so be sure to plan ahead for that if it’s required.

Equipment

Cost: Hundreds to thousands of dollars per year

You’re going to want some basic equipment after you buy a horse. This includes items for you and items for your horse. The comprehensive list of items looks different for each rider, but it typically includes the following:

Items for you:

• Riding pants
• Riding gloves
• Boots
• Helmet
• Safety vest
• Chaps (full or half)
• Clothes for showing/competing

Items for your horse:

• Grooming kit
• First aid kit
• Sprays and ointments for health/maintenance
• Saddle
• Saddlepads or risers
• Bridle + reins
• Halter + lead rope
• Boots or polo wraps (front, back, or both)
• Miscellaneous tack, such as a breast collar
• Training aids (whips, crops, and lunge lines)
• Sheet
• Blanket
• Fly mask
• Specific equipment or tack for your discipline(s)

Most of these items are one-time purchases, but chances are that you’ll be buying them at the same time that you purchase your horse. So, you’ll want to plan accordingly to make sure you have the funds.

Miscellaneous

Cost: $$$$!

Truthfully, the sky is the limit when it comes to horse costs. Items listed in this section (usually) aren’t required, but they’re worth mentioning to make sure you have the full picture.

• Truck and trailer: Some horse owners wouldn’t dream of having a horse without wheels. They want the flexibility to go where they want, when they want, without having to rely on outside transportation. A truck and trailer is valuable to have if you can afford it, but you’ll incur a large upfront cost for the purchase along with ongoing expenses for registration, insurance, and repairs. Think about this purchase carefully before taking the leap!
• Shows and clinics: costs can quickly add up for competitive riders. If you show, you’ll likely have or association fees, entry fees for classes, additional trainer fees, and extra costs for stalling a horse at the show grounds. These fees will vary depending on your area, riding level, and specific goals.
• Specialty providers: Outside of the vet, you may get help from specialty providers at various times in your riding career. This includes saddle fitters, equine chiropractors, equine massage therapists, diet specialists, and others. These expenses may be one-time costs or ongoing depending on your horse’s needs.
• Major medical events: No one wants to imagine the worst when it comes to their horse’s health. Sadly, though, horses are susceptible to diseases and injuries. If your horse has a big injury or needs major surgery, you could end up with a five-figure bill. Which brings us to our next point…
• Insurance: Some horse owners choose to insure their horses. You can select mortality insurance (which covers the purchase price of the animal) or major medical insurance (which kicks in for large medical expenses). Insurance typically costs three to five percent of the horse’s value per year.

How Much is a Horse? Lifetime Expenses of Horse Ownership

Owning a horse is fun, rewarding, challenging, and – yes – costly.

Lifetime costs vary from one horse to the next, but a recent study found that the average lifetime cost of keeping a horse is between $300,000 and $924,000. “Backyard” horses are on the low end of the spectrum, while competitive horses are the most expensive to buy and maintain.

That figure may sound scary, but keep in mind that it’s spread out over many years (in some cases, the entire lifetime of the horse – which can be 30 years or more!)

Owning a horse is an amazing privilege. If you can comfortably manage the costs of ownership with your other financial obligations, and if your horse is a good fit for you, you’re unlikely to regret a horse purchase.