Americans Spend $690 on Their Pets And Cincinnati Residents Are the Most Pet-Obsessed

Ahead of National Pet Day, the LendingTree survey explores the metro areas that are the most pet-obsessed

CHARLOTTE, N.C., April 5, 2022 /PRNewswire/ -- LendingTree®, the nation's leading online loan marketplace, released its study exploring pet ownership across the U.S. With April 11th marking National Pet Day, the survey found that women, baby boomers, and Cincinnati residents are the most pet-obsessed. Women spend more on pets than men, baby boomers spend more on pets than any other generation, and the Cincinnati metro area has more pet stores than any other metro area in the U.S., per capita. Additionally, the study uncovered that American households spend an average of $690 on their pets.

• Cincinnati is the most pet-obsessed U.S. metro. A breakdown of data from the 50 largest U.S. metros shows the Ohio metro has 1.93 pet stores per 1,000 businesses — the most in the nation. Bridgeport, Conn. (1.89), and Buffalo, N.Y. (1.83), rank next.
• Birmingham, Ala., is the least pet-obsessed U.S. metro. The Alabama metro has 0.77 pet stores per 1,000 businesses. San Jose, Calif. (0.90), and Oklahoma City (1.02) are just ahead.
• Pet spending has risen 50% and households spend an average of $690 on pets, up from $460 since 2013. From 2013-to-2020, overall spending rose 20%, meaning pet spending grew 2.5 times faster.
• Women spend more than men on pets. Single women spend an average of $504 a year on pets while men spend an average of $381.
• Baby boomers spend the most on pets. People born between 1946 and 1964 spend an average of $834 on pets. Gen Xers spend $700, millennials spend $695, and Gen Zers spend $42 on their pets.

The Most Pet-Obsessed Metro Areas:

1. Cincinnati, OH
2. Bridgeport, CT
3. Buffalo, NY
4. Columbus, OH
5. Seattle, WA
6. Philadelphia, PA
7. Portland, OR
8. Tampa, FL
9. Hartford, CT
10. Providence, RI

To view the full report, visit
https://www.lendingtree.com/personal/pet-obsessed-metros-study/ 

LendingTree researchers analyzed U.S. Bureau of Labor Statistics (BLS) Consumer Expenditure Surveys from 2013 through 2020 to find out how much Americans have spent on their pets over time and by various demographics.

Note that the gender data looks at 2019-2020 two-year averages from the BLS Consumer Expenditure Surveys, while the generation data looks at 2020 — both based on the latest available information.

We defined generations as the following ages in 2020, according to the BLS data:

• Generation Z: Birth year of 1997 or later
• Millennial: Birth year from 1981 to 1996
• Generation X: Birth year from 1965 to 1980
• Baby boomer: Birth year from 1946 to 1964
• Silent generation: Birth year of 1945 or earlier

LendingTree researchers also analyzed U.S. Census Bureau 2019 County Business Patterns Survey data — the latest available — to rank the most pet-obsessed metros.

Specifically, researchers compared the number of pet stores to the total number of businesses in each of the 50 largest U.S. metros. We then ranked these metros based on which had the most pet stores relative to the total number of businesses.

LendingTree is the nation's leading online marketplace that connects consumers with the choices they need to be confident in their financial decisions. LendingTree empowers consumers to make smarter financial decisions through choice, education and support. Consumers can compare multiple offers from a nationwide network of over 500 partners in one simple search, and can choose the option that best fits their financial needs. Services include mortgage loans, mortgage refinances, auto loans, personal loans, business loans, student loans, insurance, credit cards and more. Through the logged-in experience, consumers receive free credit scores, credit monitoring, recommendations to improve credit health, and notifications when the proprietary algorithm identifies a savings opportunity. LendingTree, LLC is a subsidiary of LendingTree, Inc. For more information, go to www.lendingtree.com, dial 800-555-TREE, like our Facebook page and/or follow us on Twitter @LendingTree.

MEDIA CONTACT:
Nelson Garcia
[email protected]
704-943-8208

SOURCE LendingTree.com