U.S. Utilities Market Size and Household Spending Report 2023
Today, doxo released its U.S. Utilities Market Size and Household Spending Report for 2023. The report analyzes the $436 billion spent annually on utility bills in the country. It finds that the average utility bill for U.S. residents is $351 per month. Among the 79% of American households that pay a utility bill, this amounts to expenses of $4,212 per year. When averaging across all households in the nation, this comes to $3,327 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.
Utilities costs have risen over the past year, and will continue to rise throughout the winter months
These doxoINSIGHTS findings come as energy prices have continued soaring upward over the past year, due to complex factors including geopolitical tensions and costs to modernize the grid, with electricity rates reaching an all-time high in September, according to the U.S. Bureau of Labor Statistics.
While costs of natural gas are expected to decrease slightly this winter, usage will increase across the country 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% year over year, suggesting that Americans could continue to be in for an expensive winter in terms of paying bills.
U.S. Utilities Market Size and Household Spending Report 2023
A comprehensive look into the Utilities industry, with a deep dive into category market size and average spend at the national, state, and regional level.
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