Owning a dog in Canada will cost over $3,000 this year, according to a new report.
The report by financial site HelloSafe compiled data from StatCan and HelloSafe partners to provide data as of Jan. 2024. It focuses on the growing costs associated with dog ownership, the shift in pet care priorities and potential changes in pet ownership trends.
The report found that it has gotten a lot more expensive to own a dog this year compared to three years ago. The average annual expense for a dog in Canada costs about $3,020, from $2,595 for smaller breeds to $4,605 for bigger ones.
The average cost of owning a dog rose 23.3 per cent from $2,450 in 2021.
“This trend likely reflects broader economic factors such as inflation and an increased demand for pet-related products and services. Additionally, it suggests a shift towards higher-quality pet care, with owners investing more in their pets’ well-being,” the report said.
The report notes that based on these numbers, there is a need for careful financial planning in pet care.
In addition, the average annual budget for a dog varies greatly according to breed and size.
Even though the average budget is just over $3,000 this year, it can cost a lot more depending on the type of dog you own and the difference can be seen in two categories: food costs and veterinary care.
The report says food expenses can cost $525 more for bigger dog breeds, bringing the total average to $2,640 a year.
“This disparity, primarily due to the larger quantity and potentially different quality of food required for bigger breeds, underscores the importance of food budgeting in pet ownership decisions,” the report read.
Meanwhile, regular vet visits for larger breeds can cost twice as much ($500) compared to smaller breeds ($250) due to the complex healthcare needs of larger breeds, which often require more resources and specialized attention from veterinarians.
Regardless of the breed, the report says owners in Canada must be prepared for the initial expenses of acquiring a dog which is currently an average of $2,580.
“During the first three months after acquiring a dog, numerous investments must be made in equipment, health prevention and other miscellaneous expenses,” the report said.
This includes services such as spay/neutering, training classes, bed and crate, post 16 weeks exam, microchipping and more.
