A new national study from Synchrony reveals nearly 80 percent of U.S. pet owners continue to underestimate the lifetime costs of caring for their animals, despite growing financial pressure and increasing investment in pet health and wellness. The 2025 Pet Lifetime of Care Study, conducted by Synchrony’s CareCredit, surveyed nearly 5,000 pet owners and found rising lifetime expenses for dogs, cats, and—for the first time—small companion animals, such as rabbits, guinea pigs, and hamsters. According to the study, the lifetime care for a dog now ranges from $22,125 to $60,602, which is an increase of more than 11 percent from 2022. Cat care has seen an even sharper rise of 19.4 percent, with lifetime costs ranging from $20,073 to $47,106. Small animals, newly included in the survey, are estimated to cost $7,600 to $14,938 over a typical six-year lifespan—yet most owners expect to spend less than $3,000. Financial strain is also increasing. Almost half of pet owners now say unexpected expenses cause significant worry—up from one-third in 2022—and 74 percent report facing surprise bills more than $250. Yet only 31 percent of all pet owners feel prepared to handle a major pet-related cost. Many turn to credit: 58 percent have used a credit card for veterinary expenses, while just 20 percent have dedicated savings or insurance. For dog owners, technology and preventive care are pushing costs higher. Annual spending on wellness plans has risen to $701, and on insurance to $313, though both still trail the $749 national average premium reported by the North American Pet Health Insurance Association NAPHIA. Cat owners are also spending more, with 2025 estimates for tech-related care now between $350 and $480 per year, reflecting a growing adoption of smart feeders, litter boxes, and telehealth. The study also reflects shifts in pet demographics. Cat ownership is on the rise, now found in 37 percent of U.S. households—up from 30 percent last year. However, awareness of true costs has not kept pace. Cat owners still estimate lifetime care at under $6,000, far short of the study’s $20,000 minimum. Synchrony’s study aims to bridge this gap in awareness by helping pet owners better understand and plan for the financial realities of long-term pet care, amid rising costs and evolving expectations of what it means to be a responsible pet parent. For more information, visit the Pet Lifetime of Care 2025 website.
