Today, doxo released its U.S. Utilities Market Size and Household Spending Report for 2021. The report analyzes the $380 billion spent annually on utility bills in the country. It finds that the average utility bill for U.S. residents is $316 per month. Among the 78% of American households that pay a utility bill, this amounts to expenses of $3,792 per year. When averaging across all households in the nation, this comes to $2,955 per year.
The report also breaks out the U.S. household spending market size, plus 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 6 million customers who have paid bills across more than 97% of U.S. zip codes.
Utilities costs set to rise as inflation and winter loom ahead
These findings come as energy prices have begun to soar. Energy costs, which plunged during the pandemic as the economy slowed, are now rising and driving inflation across the country. The U.S. Energy Information Administration predicts that, compared to this time last year, the cost of heating oil will increase by 43%. Natural gas, meanwhile, is set to rise by 30%, propane by 54%, and electricity by 6%. Each will climb even higher if the winter is colder than expected.
Utility bill payments across doxo’s platform were up 4% in October as compared to the same period last year. This suggests that these increases are already being passed on to consumers. Looking ahead, Americans are likely in for an expensive winter in terms of paying bills.
See the full report by downloading the pdf below. You can also read doxoINSIGHTS’ detailed breakdown of the report here: How Much Do Utilities Cost for the Average US Household?