Owning a horse is a dream for many equestrians, but it’s important for first-time owners to consider the related expenses beyond the purchase price. Horse ownership comes with a range of ongoing costs, from feeding and veterinary care to boarding and equipment.
The costs of purchasing and maintaining a horse can vary significantly based on factors like the horse’s breed, age, health status, geographic location, and the intended purpose for training or competition.
With careful planning, new owners can manage their budget efficiently to provide their horse with top-quality care. In this guide, we break down the typical costs associated with horse ownership, from purchasing and maintaining a horse to additional expenses like training and emergency care.
Whether you’re a first-time buyer or an experienced equestrian looking to expand your herd, this comprehensive overview will help you make informed financial decisions and prepare for the long-term responsibilities of horse ownership.
How Much Does It Cost To Purchase a Horse?
The cost of purchasing a new horse can vary greatly, usually ranging from $1,000 to over $15,000 USD, depending on factors like age, breed, pedigree, training, and intended use.
A survey in the United States revealed that the average cost of buying a horse is around $3,000 USD. However, there is currently no centralized database for horse purchase data. [1]
Further, it’s not uncommon for highly-trained performance horses or rare breeds to cost much more — sometimes even exceeding $100,000 USD. The most expensive horse ever sold was a Thoroughbred purchased in 2000 for $70 million USD. [2]
The primary use of the horse also impacts its price. Horses meant for leisure riding or companionship are typically more affordable, whereas specialized breeds for competition or breeding can command much higher prices.
Other considerations that can influence purchase price include:
- Pedigree: Horses bred from high-value studs and mares with a proven record of performance tend to have some of the highest prices. Rare bloodlines are among the most expensive.
- Breed: The cost of specific breeds can vary, with certain breeds like Friesians, Arabians, and Warmbloods generally on the higher end due to their distinctive traits and popularity in competitive equestrian sports.
- Training: Horses that have already undergone basic training are typically more expensive than younger, untrained horses. Those with advanced or specialized training, especially for competition, come at a higher cost.
- Achievement: A horse’s success in competitions can significantly increase its value. Proven performance in the ring often makes the horse and its offspring highly desirable, raising their price in the market and studbooks.
Monthly Maintenance Costs
Before purchasing a horse, it’s important to consider the ongoing costs beyond the initial purchase price. Here’s a breakdown of the key expenses involved in keeping a horse healthy, happy, and well-cared-for.
Feeding Costs
In the wild, horses graze continuously, spending up to 16 hours a day foraging on grasses and other vegetation. [3]
For most domestically managed horses, the diet consists primarily of pasture grass or hay, with additional supplements or commercial feeds provided as needed to meet nutritional requirements.
Your feeding costs will vary depending on your horse’s size, activity level, and whether you have year-round access to pasture. Costs can also increase if your horse has specific dietary needs. For instance, performance horses or those with certain health conditions may require specialized feeds or additional supplements to support their health and performance.
On average, a healthy adult horse is expected to consume 2% of their body weight in total forage and feed each day. [4] For the typical 500 kg (1,100 lb) horse, this is equivalent to 10 kg (22 lb) of dry matter per day.
The bulk of this intake should come from forage, but depending on your horse’s workload and body condition, you may need to provide additional concentrates such as beet pulp, soybean meal, grains or oil, to ensure they meet their energy requirements.
Keep in mind that calorie requirements change depending on your horse’s physiological status and exercise level. For example, growing foals, heavily exercising horses, and pregnant and lactating mares have proportionally higher nutritional requirements than adult horses at maintenance. [4]
You can work with an equine nutritionist to help you develop a balanced diet tailored for your horse that matches your budget.
Pasture
Access to well-maintained pasture can significantly reduce the need for supplemental feeding, lowering overall costs of managing a horse. However, the cost of utilizing pasture for your horse’s care depends on factors like land availability and ongoing maintenance.
Soil quality, grazing patterns, and climate conditions all influence whether pasture can meet a horse’s nutritional needs year-round. In colder months or during drought, when pasture quality typically declines, additional forage is often necessary.
It’s also important to note that pasture feeding isn’t suitable for all horses. Those with metabolic conditions or weight management issues may require more controlled feeding.
Managing pasture also requires regular upkeep, including fertilization, reseeding, weed control, fencing repairs, and rotational grazing to prevent overgrazing and ensure long-term pasture health. For those managing their own land, these maintenance tasks are critical for keeping the pasture productive and safe for horses.
For those boarding horses, pasture access may be included in the boarding fee, but it’s important to inquire about how the facility manages pasture rotation and maintenance. Poorly maintained pastures can lead to inadequate nutrition, requiring more supplemental feeding, and may also increase the risk of injury or parasite exposure.
Hay
Hay consists of dried grasses or legumes that are cut and stored to feed horses and other livestock during times when fresh pasture is not available, such as winter or in periods of drought.
For a typical 500 kg (1,100 lb) horse eating a hay-based diet, expected monthly hay consumption is approximately 300 kg (660 lb) on a dry matter basis. This is roughly equivalent to 330 kg (730 lb) of hay as-fed.
Hay prices usually range from $150 to $400 USD per ton depending on quality and location. This means the monthly hay cost for a horse could range anywhere from about $50 to $130 USD.
The price of hay also varies widely based on regional availability and time of year, with areas facing hay shortages often seeing significantly higher prices. Additionally, fluctuations in growing conditions can cause hay prices to change year to year.
Purchasing hay in bulk or during the harvest season can reduce costs, but requires adequate storage space and comes with risks, such as potential spoilage, which can lead to losses. Proper storage is essential to ensure hay remains fresh and doesn’t become damaged by moisture or pests.