Older adults value pets more, even as cost strain rises

Pets appear to be playing an even bigger emotional role in the lives of older Americans, but the financial side of that bond is getting harder to manage. New data from the University of Michigan’s National Poll on Healthy Aging show that 83% of pet parents ages 50 to 80 say their animals give them a sense of purpose, up from 73% in 2018. But 31% now say their pets strain the household budget, compared with 18% seven years earlier. (ihpi.umich.edu)

The findings come from a national household survey conducted by NORC at the University of Chicago for the University of Michigan Institute for Healthcare Policy and Innovation. The survey ran from September 3 to 29, 2025, and included U.S. adults ages 50 to 95; for trend comparisons with 2018, researchers analyzed only adults ages 50 to 80. Pet ownership itself was relatively stable, with 57% of adults ages 50 to 80 reporting at least one pet today versus 55% in 2018. (ihpi.umich.edu)

What changed was the mix of perceived benefits and burdens. In addition to the rise in purpose, 70% of current pet parents over 50 said pets connect them with others, 63% said pets reduce stress, and 44% said pets help them stay physically active. But some of those benefit measures actually declined from 2018 levels: the share saying pets helped with physical activity fell from 64% to 44%, and the share saying pets reduced stress dropped from 79% to 63%. Meanwhile, cost pressures intensified. Among respondents without pets, one-third now cite cost as a reason, up from 21% in 2018, and more also say they lack time or health to care for an animal. (ihpi.umich.edu)

The affordability burden also wasn’t evenly distributed. The University of Michigan release said current pet parents most likely to report budget strain were women, adults with fair or poor mental or physical health, people with disabilities that limit daily activity, and those in households earning under $60,000. Preeti Malani, MD, a professor of internal medicine at Michigan and former poll director, said the two polls show that animals can contribute to healthy aging, while also highlighting that some of the people who may benefit most from pets are also those facing the greatest cost-related barriers. (ihpi.umich.edu)

That tension lines up with what veterinary and animal health groups are seeing more broadly. A PetSmart Charities-Gallup study released in January 2026 found that 73% of veterinarians say it’s difficult to watch clients struggle with costs, 74% say euthanasia for financial reasons is one of the hardest parts of the job, and 41% say this occurs at least sometimes in their practice. The same research found a disconnect around affordability discussions: while 81% of veterinarians said they often or always recommend an alternative treatment plan when care is declined due to cost, prior pet parent data cited in the release suggested many clients don’t feel they were offered a more affordable option. (petsmartcharities.org)

Other industry data point in the same direction. AAHA’s coverage of the 2025 Pet Lifetime of Care Study reported that nearly half of pet parents say unexpected expenses cause financial concern, up from about one-third in 2022, and that almost 1 in 4 are stressed about a veterinary expense of $250. The article also noted that estimated lifetime care costs have risen since 2022, while many pet parents still substantially underestimate what long-term care will cost. That context helps explain why older adults may increasingly see pets as essential to well-being, yet still struggle to sustain care. (aaha.org)

Why it matters: For veterinary professionals, this is less a lifestyle story than a care-access story. Older clients may derive meaningful mental, social, and routine-related benefits from pets, which can make preserving the human-animal bond especially important in this age group. But if more clients are feeling squeezed, practices may see greater demand for phased diagnostics, lower-cost treatment pathways, transparent estimates, and earlier conversations about preventive care, chronic disease planning, mobility limitations, and contingency plans if a client’s health or finances worsen. The poll’s subgroup findings also suggest that affordability screening and tailored communication may be especially relevant for lower-income, disabled, or medically vulnerable older pet parents. (ihpi.umich.edu)

What to watch: The next question is whether practices, nonprofits, and industry groups can close the gap between the emotional value older adults place on pets and the growing cost barriers that threaten access to care. Expect continued attention on spectrum-of-care models, charitable support, financing tools, and communication training, especially as veterinary teams try to keep more older pet parents and their animals together without compromising medical standards. (petsmartcharities.org)