BEDFORD – Tuesday, doxo released its U.S. Utilities Market Size and Household Spending Report for 2022. The report analyzes the $399 billion spent annually on utility bills in the country. It finds that the average utility bill for U.S. residents is $328 per month. Among the 78% of American households that pay a utility bill, this amounts to expenses of $3,936 per year. When averaging across all households in the nation, this comes to $3,070, per year.
The report also breaks out the U.S. household spending market size, and average monthly costs by state and city. A statistical analysis of actual household payments toward utility bills was used to size the market. It draws on anonymized data from doxo’s 8 million customers who have paid bills across more than 97% of U.S. zip codes.
These doxo INSIGHTS findings come as energy prices have been soaring upwards over the past year, contributing to inflation across the country.
According to the U.S. Energy Information Administration, power prices are expected to rise in all areas of the country during the winter months as the weather becomes colder. In line with this forecast, doxo’s data reveals that payments to utility bills as a whole were up 7% in the third quarter of this year as compared to the same period last year, with electric and gas bills each increasing 10% quarter over quarter, waste and recycling increasing 7% and water and sewage increasing 1%. All in all, these numbers suggest that Americans continue to be in for an expensive winter in terms of paying bills.
- Monthly bill amount in Bedford: The average household pays $1,372 a month for the 10 most common household bills.
- Rank in Indiana: Bedford is the #85 most expensive city in the state for household expenses.
- Bedford’s monthly bills compared to Indiana and national averages: The household expenses in Bedford, on average, are 31.5% lower than the national average of $2,003, and 14.6% lower than the state average of $1,607.
Average Cost of Monthly Bills in Bedford
- Mortgage – $859
- Rent – $707
- Auto Loan – $369
- Utilities – $228
- Health Insurance – $75
- Auto Insurance – $190
- Cable & Internet – $92
- Mobile – $116
- Alarm & Security -$85
- Life Insurance – $83
To view the full report click here.
