Key takeaways
- The cheapest pet to own is usually a hamster at about $180-$360 a year, followed by rats and small freshwater fish at $240-$600 a year.
- Among dogs and cats, a domestic shorthair cat is the cheapest at about $780-$1,200 a year, and a small dog costs about $1,020-$1,800.
- Yearly cost is only part of the picture, because setup costs, vet care, and how many animals you need change the real price.
The cheapest pets to own are small animals like hamsters, at about $180-$360 a year, followed by rats and small freshwater fish at $240-$600 a year. Among cats and dogs, a domestic shorthair cat is the cheapest at about $780-$1,200 a year. This guide compares yearly and setup costs for affordable pets in 2026.
Cheapest pets by yearly cost
Small caged and aquarium pets cost the least per year, and cats and dogs cost more.
| Pet | Setup cost | Monthly cost | Yearly cost |
|---|---|---|---|
| Hamster | $75-$250+ | $15-$30 | $180-$360 |
| Rat | $100-$300+ | $20-$40+ | $240-$480+ |
| Small freshwater fish | $100-$500+ | $20-$50 | $240-$600 |
| Domestic shorthair cat | Varies | $65-$100 | $780-$1,200 |
| Chihuahua | Varies | $85-$125 | $1,020-$1,500 |
| Small mixed-breed dog | Varies | $90-$150+ | $1,080-$1,800+ |
Figures come from PetLifetimeCost's 2026 cheapest pets guide, updated in August 2026. Setup costs include the cage or tank, bedding, and starter supplies, and they are paid once. Prices vary by region and by the quality of the equipment you buy.
$984
Median yearly cost of a cat across 75 breeds in PetBudget's model, compared with $2,465 for the median dog across 178 breeds. See how much a cat costs.
Photo: Sharon Snider / Pexels
Hamsters, rats, and fish
Hamsters are usually the cheapest pets to maintain each month. PetLifetimeCost puts a hamster at $15-$30 a month, or $180-$360 a year, after a setup of about $75-$250. A cage, wheel, bedding, and hideouts make up most of the starting cost.
Rats cost a little more, at $20-$40 a month, because they are social animals usually kept with companions. That doubles food and bedding costs. A modest freshwater aquarium runs $20-$50 a month once the tank is established, but the tank, filter, and heater can cost $100-$500 or more up front.
Guinea pigs
A guinea pig costs about $33-$166 a month, according to Hepper's guinea pig cost guide. Setup and supplies run $100-$550, and the animal itself costs $20-$40 to adopt. Health care is the largest monthly line, at $16-$83.
Guinea pigs are better kept in pairs so they are not alone, and Hepper advises doubling the costs if you adopt two. They do not need vaccines, but checkups, dental work, and emergencies still add up. A single-animal budget can look cheap and then change once you get a second pet.
The cheapest cat and dog
A cat is the cheapest way to own a traditional companion animal. In PetBudget's model, the median cat across 75 breeds costs $984 a year and $14,930 over its life. The Domestic Shorthair costs about $822 a year, with a first-year total of $2,132 and a lifetime estimate of $13,640. See the Domestic Shorthair cost page for details.
Dogs cost about two and a half times as much. The median dog across 178 breeds costs $2,465 a year and $32,339 over its life. Small and toy dogs are the cheapest. The Chihuahua costs about $1,599 a year in PetBudget's model, and the Japanese Terrier has the lowest lifetime estimate of any dog at $21,962. Read the cheapest dog breeds to own for the full list, or compare the two species in lifetime cost of a dog vs a cat.
The cheapest cat and dog breeds to own
Among cats and dogs, a few breeds cost far less than the median. This table ranks the five cheapest of each by yearly cost in PetBudget's model.
| Cat breed | Yearly cost | Dog breed | Yearly cost |
|---|---|---|---|
| Korat | $797 | Manchester Terrier (Toy) | $1,491 |
| Singapura | $817 | Japanese Terrier | $1,512 |
| Domestic Shorthair | $822 | Chihuahua | $1,599 |
| American Curl | $824 | Danish-Swedish Farmdog | $1,670 |
| European Shorthair | $837 | Italian Greyhound | $1,682 |
Even the cheapest dog costs about twice as much per year as the cheapest cat. Small size lowers food, medication, and supply costs. Figures are modeled estimates, explained on the methodology page.
Photo: Erika Augusto / Pexels
Why the yearly cost is not the whole price
A low yearly cost can hide other expenses. Setup costs for a fish tank or a hamster cage can equal several months of upkeep. Some small animals need a vet who treats exotic pets, and that can mean a longer drive. Emergencies happen with any pet, and a sudden illness can wipe out a savings cushion.
Adopting also lowers the starting price. Shelters place cats and dogs with vaccines and spay/neuter included, and small animals like guinea pigs can cost $20-$40 to adopt, per Hepper. For dogs, see how much it costs to adopt a dog.
How to choose an affordable pet
Match the pet to your budget, your time, and your home. These steps help.
- Price the full setup first. Add the cage or tank, supplies, and adoption fee to the yearly cost.
- Ask if the pet needs a companion. Rats and guinea pigs are usually kept in pairs, which raises costs.
- Check for a nearby vet. Some small animals need an exotic vet, and a long drive adds cost.
- Set aside a reserve. Even a low-cost pet can have a sudden vet bill. See the emergency vet cost guide.
- Compare with your own numbers. Use the pet cost calculator for cats and dogs.
Bottom line
The cheapest pets to own are hamsters, rats, and small freshwater fish, at $180-$600 a year. If you want a cat or dog, a domestic shorthair cat at about $780-$1,200 a year is the most affordable choice, and a small dog at $1,020-$1,800 comes next. Price the setup and any vet care before you decide.
Frequently asked questions
What is the cheapest pet to own?
A hamster is usually the cheapest pet to own, at about $15-$30 a month or $180-$360 a year after setup. Rats and small freshwater fish cost a bit more, at $240-$600 a year, once the tank or cage is set up.
What is the cheapest pet to own for a dog or cat lover?
A domestic shorthair cat is the cheapest mainstream companion animal, at about $780-$1,200 a year. The cheapest dogs are toy and small breeds like the Chihuahua, at roughly $1,020-$1,500 a year.
Are small pets cheaper than cats and dogs?
Small pets cost less per year, but their costs change with the animal. Rats and guinea pigs are social and are usually kept in pairs, which can double food and bedding costs, and some small animals need a vet who treats exotic pets.
Is a cat cheaper than a dog?
Yes. In PetBudget's data the median cat costs $984 a year and the median dog costs $2,465 a year. Over a lifetime, the median cat costs about $14,930 and the median dog about $32,339.
What are the cheapest affordable pets for kids?
Hamsters and small freshwater fish are the most affordable pets for kids, at $180-$600 a year. Both need a full setup first, so plan for $75-$500 or more in starting costs.
See your own pet's real numbers.
Run the calculator with your breed, metro area, and care choices for a first-year, annual, and lifetime cost estimate — not a national average.