Costs of Owning a Horse: Breaking Down the Top 3 Expenses

“No hour of life is lost that is spent in the saddle," Winston Churchill famously said. Maybe you've dreamed of owning a horse of your own, or you have a child who has been asking for a pony for years and you're wondering, "Can my family afford it?"

What Does It Cost To Own a Horse?

According to the new Synchrony Equine Lifetime of Care study, horse owners, who are passionately devoted to their animals, often underestimate the total cost of care.¹ While 83% of horse owners say they are prepared for expenses, actual costs can be three to four times higher than they expect.

"Horse owners often plan for the cost of food, boarding and gear, yet they can sometimes overlook critical components of veterinary care, such as colic treatment, broken bones and eye issues, which can cost as much as $10,000," explains Boo Larsen, senior vice president and general manager, Veterinary, Synchrony. All-in annual costs for owning a horse can range from $8,600 to $26,000 per year, according to the study.¹

Before you decide if horse ownership is right for you, it's important to have a realistic understanding of the financial (and time) commitment involved in housing, feeding, caring for and enjoying a 1,000-pound animal with a horse lifespan of 25 years or more (and, by the way, 90% of horse owners will keep their horses for life).¹

The costs associated with all things equine can vary widely by geography, so it's a good idea to compare local prices to get an accurate picture of how it will affect your budget. Read on for a breakdown of what the cost of horse ownership entails.

1. Startup Costs

The initial costs of getting everything you need at a minimum to ride and care for your horse include the initial purchase of a horse, tack, grooming supplies and a pre-purchase vet exam.

How much does it cost to buy a horse?

$3,000 to $10,000

In owning a horse, to start, you're going to need, well, an equine. Horses run the gamut in price from several hundred dollars to several thousand based on their age, health, breed and level of training. Most recreational horses are under $10,000, with an average price of about $3,444.²

Note that “recreational" here refers to the activities you plan to do with your horse, like pleasure riding, lessons with an instructor, trail riding, therapeutic riding or local shows. If your dream includes owning elite, high-level sport or show horses, be prepared to pay anywhere from $15,000 to $750,000 or more.²

Not all horses are created equal, either. Enlist the help of a reputable breeder and/or trainer to help you identify a horse and match your needs, goals and skill level to the horse's training, temperament, health and overall suitability. Finding the right horse for you is different from choosing a pet like a dog or cat. Horseback riding is the ultimate “team sport," and every time you get in the saddle, you're trusting your horse with your life. It's essential you find the right equine partner.

Tack³

$250 to $3,750

Though it may seem like you're shelling out a fair amount of money to get set up, keep in mind that high-quality tack, when properly cared for, can last longer than a lifetime. This includes:

• A saddle: Prices vary widely based on saddle quality and brand. It's important to remember that the saddle should fit both you and your horse, so it's worth working with a professional to help you get the right fit. Used saddles can be found in consignment tack shops or online.
• Saddle pads: Sometimes called a saddle pad, saddle blanket or numnah, they provide a cushion to protect the horse's back and absorb sweat. Basic saddle pads are usually made from a cotton-poly blend, while pricier pads can be made with memory foam, cooling gels or high-tech moisture-wicking fabric.
• A girth (English riders) or cinch (Western riders): Whatever you call it, this crucial piece of equipment keeps the saddle on the horse. Synthetic materials usually cost less than leather.
• A bridle set: This equipment goes over the horse's head and may include any or all of the following: headstall, bit, reins, breast collar or martingale.

Tack costs in summary:

Grooming supplies⁴

$185 to $450

Daily care for your horse requires grooming and feed supplies, plus a few extras. Again, a wide range of pricing is based on brand, quality and materials.

Pre-purchase veterinary exam⁴

$250 to $550

A trusted veterinarian should perform a thorough health check to give you a better overall picture of the horse's health and make note of any potential problems. The vet will listen to the horse's heart and lungs, and check their mouth, teeth, skin condition and eyes. They'll palpate the horse's abdomen for signs of tenderness and perform a flexion test of the horse's limbs for signs of lameness. These are just a few of the tests an equine vet might perform in an exam for overall health and soundness.

2. Maintenance Costs

Congratulations, you now own a horse! With the initial costs covered, you also need to consider the costs of maintaining your horse. These costs can include:

How much does it cost to board a horse?⁵

If you're not planning to keep your horse on your own land (which comes with its own costs for building out a paddock, fencing and a barn), you'll likely board them at a stable. Costs will depend on the type or level of boarding you choose, including full-service, partial-care, self-service and pasture.

Full-service board

This typically includes a stall in the barn and possibly a pasture for turnout. Barn staff will take care of your horse's daily needs, including feeding, watering, cleaning stalls, replacing bedding, and turnout and turn-in. The cost of hay and grain is often included in your monthly fee, as well as stall bedding. You may pay an extra fee to have your horse exercised on days you cannot be there.

Barn staff will often take care of scheduling yearly vet and dentist checkups, vaccinations and regular farrier care. Full-service boarding is a good option if you aren't able to see your horse every day and want the reassurance that they're getting their daily needs met.

Partial-care board

Partial-care board means your horse has a stall and/or a spot in the pasture, but you may have fewer amenities and services; be responsible for some barn chores like cleaning your horse's stall, feeding and watering; and turnout on some days of the week. You may pay for part of your horse's food or stall bedding.

Self-service board

This means you're renting a stall and/or pasture, but you're responsible for all aspects of caring for your horse, including all feeding, watering, blanketing, turnout, cleaning their stall, replacing the bedding and any other necessary barn chores. In addition, you'll purchase their food and bedding and schedule their vet and farrier appointments. A self-service barn requires you to go out at least one to two times per day to check on your horse. There may not be staff on the property to answer questions or help with issues.

Pasture board

This means your horse lives in a pasture with other horses. You may be responsible for your horse's entire care, as in self-service boarding, or there might be staff attending to the herd daily, filling water troughs, blanketing, checking for injuries or supplementing hay and grain (which you may pay for). A “run-in," or three-sided shed, is often provided for shelter from the elements in rain, snow or extreme heat.

Boarding costs in summary:

How much does it cost to feed a horse?⁵

$250 to $4,380 annually

Though feed is often included in the monthly board fee at a full-service or pasture stable, there may be instances when you'll need to cover the cost of supplemental hay or grain. Hay costs fluctuate from $2 to $12 per bale, based on availability and demand. A horse who is not eating grass in a pasture may eat as much as one bale of hay per day, meaning hay may range from $20 to $365 per month. Depending on what activities your horse is participating in, they may require a grain supplement, which can cost from $7 to $20 per bag.

Farrier (horse shoes)⁶

$120 to $1,200 annually

Like your nails that need to be trimmed every so often, horses need to be seen by a farrier every six to eight weeks to keep their hooves healthy. Barefoot trimming (meaning your horse doesn't wear shoes) may average $25 to $80 per visit. Shoeing for horses who need them due to their environment, foot conformation or type of activity can run between $65 and $150 per visit.

Basic medical care: vet and dentist⁶

$200 to $350 annually

Like you, your horse should get at least a once-a-year wellness exam from their vet to monitor their overall health. In addition, your horse should be vaccinated yearly, commonly for rabies, eastern encephalitis, western encephalitis, tetanus, West Nile virus and influenza, and should be dewormed four times per year. Your horse's vaccine schedule may vary based on your location. Vaccines and horse dewormer average costs are $50 to $100.

Fun fact: Did you know that a horse's teeth continue to grow throughout their lives? That's because as herbivores, their teeth are designed for chewing eight to 12 hours per day and get worn down. It's also where the phrase “long in the tooth" comes from.

Your horse will need to see an equine dentist one to two times per year to have his teeth “floated." Teeth floating is when the dentist files down the sharp edges or points on a horse's teeth, and costs an average of $50 to $100 per visit.⁶

Equine maintenance costs in summary:

3. Lessons and Training

Whether you're a beginner or an experienced rider, it's important for both you and your horse to have instruction and horse training to develop and/or further your equine skills.

How much are horse riding lessons?⁵

Average cost of a one-hour lesson: $35 to $75

Regular lessons with a trusted instructor can help you continue to grow your horsemanship skills and answer questions you might have about your horse as you get to know each other. Lessons are like “continuing education" — there's always more to learn.

Training for the horse⁷

$700 per month

You might consider working with a professional trainer based on your level of experience and the amount of training your horse already has. It's a good way to address any problems or habits (both yours and your horse's) in a positive setting. Expect to pay between $35 and $50 per hour or $400 to $700 if a trainer takes on your horse for a month of training.

The more knowledge and education you have about the costs of horse-keeping up front, the more likely you'll have a successful and enjoyable experience if you decide to move forward with finding your new equine friend. Talk to experienced horse owners, trainers and instructors for insight into their experiences. Happy trails!

CareCredit Credit Card Financing for Horses

The CareCredit credit card provides a convenient way to pay for your horses' health and wellness expenses, including exams, medications and products at providers in the CareCredit network.* Apply today and download the CareCredit Mobile App to find a provider on the go, manage your CareCredit account and easily access the Well U hub for more great articles, podcasts and videos. Use our Acceptance Locator to find a veterinarian that accepts CareCredit to help keep your horse healthy and happy for a lifetime of love.

Author Bio

Anne-Marie Kennedy is a freelance writer with more than 20 years of experience covering health and wellness, personal finance and real estate/investing.