Horse ownership is expensive, but the benefits of owning a horse are also very rewarding. Horse ownership provides a range of benefits, including exercise, social interaction, companionship, a sense of accomplishment, a chance to teach children about responsibility, and the chance to provide an animal that is not the same as a pet.
According to the US Department of Agriculture, the average person who owns a horse spends an average of $1,645 per year on the horse, but this figure does not include the cost of board, training, veterinary care, and other costs. The average annual cost of horse ownership including bedding, feed, training, vet, and other costs is approx. $3,876 per horse. Therefore the average monthly expense ranges from $200 to $325.