Older adults lean on pets more, even as costs bite harder

Pets appear to matter more than ever to older adults’ day-to-day wellbeing, but the financial pressure of caring for them is rising fast. New findings from the University of Michigan National Poll on Healthy Aging show that 83% of pet parents age 50 and older say their pets give them a sense of purpose, compared with 73% in 2018. At the same time, 31% now say having a pet strains their budget, up from 18% seven years earlier. (ihpi.umich.edu)

The updated poll, conducted in September 2025 and published in February 2026, offers one of the clearest longitudinal snapshots of how older adults view companion animals. Overall pet keeping among adults 50 and older was relatively steady, 55% in 2025 versus 55% to 57% depending on the comparison frame with 2018, but perceptions shifted. In addition to purpose, 70% said pets connect them with others, 71% said pets help them enjoy life, 64% said pets make them feel loved, and 63% said pets reduce stress. The report notes that some perceived benefits, including enjoyment, feeling loved, and stress reduction, were lower than in 2018 even as purpose increased. (ihpi.umich.edu)

The original report comes from the University of Michigan Institute for Healthcare Policy and Innovation, using a nationally representative NORC survey of 2,698 adults ages 50 to 95. Dogs remained the most common pet among older adults, reported by 70% of pet-owning respondents, followed by cats at 50%. Among adults 50 and older who do not currently have pets, the top reasons were not wanting to be tied down, simply choosing not to have one, and cost, with one-third citing cost as a main factor. (ihpi.umich.edu)

The financial findings are especially relevant for veterinary teams. In the Michigan release accompanying the poll, researchers said budget strain was more likely among women, respondents with annual household income below $60,000, those reporting fair or poor mental or physical health, and those with disabilities that limit daily activities. Preeti Malani, MD, a geriatrician who directed the 2018 poll and now advises the team, said the two surveys show that animals can play a key role in healthy aging, while also underscoring that some people who may benefit most from pets are also those most likely to face cost-related barriers. (ihpi.umich.edu)

That message lands amid a wider affordability debate in veterinary medicine. A January 2026 PetSmart Charities-Gallup release reported that 94% of veterinarians say clients’ financial considerations sometimes or often limit their ability to provide recommended care, and 41% said euthanasia due to unaffordable treatment occurs at least sometimes in their practice. In companion research released the prior month, Gallup and PetSmart Charities reported that 52% of pet parents had skipped or declined veterinary care, with 70% citing financial reasons, and that many who declined care said they were not offered a lower-cost alternative or payment plan. (gallup.com)

Why it matters: For veterinary professionals, this isn’t just a human-interest trend. It points to a growing segment of older clients for whom the bond with an animal is central to mental health, daily structure, activity, and social connection, but whose ability to pay may be increasingly fragile. That raises practical implications for communication, preventive care planning, adherence, and end-of-life decision-making. Clinics serving older adults may need to think more deliberately about transparent estimates, staged treatment plans, payment pathways, charitable support, and referral networks for access-to-care resources. Programs such as the AVMF’s REACH initiative and other nonprofit-supported models are likely to stay part of that conversation as practices look for ways to reduce financial barriers without compromising care standards. (ihpi.umich.edu)

What to watch: The next phase will likely be less about whether affordability is a problem and more about which interventions actually help older pet parents access care, including flexible payment options, lower-cost care pathways, and community partnerships that keep pets with the people who rely on them. (petsmartcharities.org)