The Average Cost of Owning a Car
Move.org analyzed the average costs of owning a car in every state in the country and determined the average monthly cost of owning a car in the United States.
According to the study, it costs roughly $5,264.58 every year to own a car in the United States. This includes the average costs for car payments, gas, car insurance and replacement parts across every state in the country—some of which have much higher costs than others. For example, the average Michigan resident pays $9,304.28 every year for their car, while the average Alaskan only pays $3,586.95.
Michigan leads the country in average monthly cost at $775, followed by Florida at $564 and Texas at $556.
Alaska is the cheapest state to own a car at a monthly cost of $299, beating out West Virginia at $347 per month and Ohio at $353.
To read the full report and learn how Move.org determined the monthly cost in each state, click here.