Quarter of Gen Z forced to surrender pets amid soaring costs, survey finds

A survey carried out by online marketplace LendingTree reveals that 12% of Americans have surrendered a pet because they could no longer afford to care for it. This figure increases to 25% among Gen Z pet owners born between 1997 and 2012.

Of the 69% of Americans who are pet owners, Gen Zs are most likely to consider going without pets (46%) due to the costs.

Almost a quarter of all American pet owners (23%) say they’ve considered going petless for the same reason, and 39% admit they won’t own a pet again in the future.

These findings come from an online survey of 1,991 U.S. consumers aged 18 to 78, conducted by LendingTree in collaboration with QuestionPro between July 1 and July 8, 2024.

Affording a pet  

The survey reveals that among the 31% of Americans without pets, 25% simply can’t afford one.

Men (33%) are far more likely than women (14%) to consider giving up their pets due to the cost.

Nearly 9 out of 10 pet owners admit inflation is impacting their pet care costs. The majority of respondents (76%) agree that the price of pet food is increasing, followed by vet services (56%) and necessary supplies (40%).

As many as 85% of pet owners face higher costs, and 37% have gone into debt for their pets. Medical emergencies are a key factor, causing debt for 68% of those affected.

The data reveals that families with children under 18 (46%) and high-income earners of $50,000 or more (41%) are more likely to have incurred pet-related debt.