As soaring energy prices drive inflation, doxo reveals US households spend an average of $ 2,955 per year on utility bills

SEATTLE – (COMMERCIAL THREAD) – doxo, the innovative web and mobile bill payment service, today released its report on the size of the utility market and household spending in the United States for 2021, revealing that Americans are spending 380 billion dollars a year in utility bills. Statistical analysis of actual household payments on utility bills was used to assess the market and the amount spent per household on 37,000+ (97%) US zip codes. The report found that the 78% of U.S. households with a utility bill spend $ 316 per month, or $ 3,792 per year – or $ 2,955 * per year on average for all U.S. households. The report also details the size of the US household spending market; percentage of households that pay each bill; and the average monthly and annual bill payment costs by state, largest metropolitan areas and cities based on population.

These new findings from doxoINSIGHTS come as energy prices, which plunged during the pandemic as the economy slowed, have started to soar, driving inflation across the country. The U.S. Energy Information Administration predicts that, compared to the same period last year, the cost of heating oil will increase by 43%, natural gas by 30%, propane by 54% and gasoline. electricity by 6% – and each will increase further if the winter is colder than expected. Utility bill payments on the doxo platform rose 4% in October compared to the same period last year, suggesting these increases are already being passed on to consumers and Americans are likely to experience an expensive winter in terms of paying bills.

“DoxoINSIGHTS Utility Market Size and Household Spending Report leverages our proprietary data set to help make the US bill payment economy transparent and understandable to everyone, ”said Jim Kreyenhagen, vice president of marketing and consumer services at doxo. “In addition to our app, which makes it easier to stay on top of invoices to help improve financial health, these reports support doxo’s ongoing mission to empower our consumer, biller and financial service provider users. decisions. ”

2021 doxoINSIGHTS Utilities Market Size and Household Spending Report Results

doxoINSIGHTS leverages doxo’s unique, aggregated and anonymized bill payment data, including actual bill payment activity to established household service providers across the country. The report on utility market size and household expenditure including electricity, gas, water and sewerage, as well as waste and recycling, details the size of household expenditure market; percentage of households that pay each bill; and the average monthly and annual bill payment costs by state, largest metropolitan areas and cities based on population. The main conclusions are as follows:

  • Total market size: 380 billion dollars spent per year
  • Average monthly / annual cost: $ 316 spent per month; $ 3,792 spent per year
  • Percentage of households: 78% of U.S. households pay utility bills
  • Average annual cost per U.S. household: $ 2,955 per year *
  • Percentage of annual income: Utility bills amount to 5% of consumers’ income per year

States with the highest utility bills

State

Monthly amount

Annual amount

Hawaii

540 $

$ 6,479

New Jersey

$ 436

$ 5,229

Alaska

$ 428

$ 5,130

Massachusetts

$ 424

$ 5,091

Connecticut

$ 408

$ 4,897

Access utility household bill payment data for all 50 states here.

Largest metropolitan areas with the highest utility bills

Subway station

Monthly amount

Annual amount

Milwaukee

$ 440

$ 5,278

Birmingham

$ 396

$ 4,758

Pittsburgh

$ 380

$ 4,555

Hartford

$ 379

$ 4,547

San Francisco

$ 364

$ 4,365

Access utility household bill payment data for the top 50 metropolitan areas here.

For more information or to view the full report, visit www.doxo.com/insights/.

* Average monthly bill x% of households with bill x 12 months per year = Average annual cost per US household.

About doxoINSIGHTS

doxoINSIGHTS provides direct insight into the financial health and spending of households by leveraging consumer surveys and doxo’s unique set of aggregate bill payment data, including the actual activity of paying bills to suppliers of household services confirmed across the country. doxo data brings together the largest set of data available to analyze actual household bill payment activity, from more than 6 million paying consumers in over 97% of US zip codes. Doxo’s payment network covers more than 100,000 billers in 45 different service categories and enables payments using bank accounts, credit cards or debit cards. This one-of-a-kind statistical base powers doxoINSIGHTS reports – revealing key trends in household financial health and bill payment behavior.

About Doxo

doxo provides easy and secure all-in-one bill payment to any biller, with any payment method, on any device. A doxoPLUS subscription adds free bank payments and five essential financial protections that improve the financial health of households. Through these services, doxo currently serves more than six million users who can make payments to more than 100,000 local and national businesses, making doxo the largest bill paying directory in the country. Billers on the network are paid directly, quickly and free of charge, and consumers are completely independent as to when and how they pay their bills. doxo has grown its user base by over 70% over the past year and is expanding its team to further accelerate growth and change the bill payment landscape to focus on the customer. Doxo investors include MDV, Sigma Partners and Bezos Expeditions. doxo is based in Seattle, WA. For more information, visit www.doxo.com.

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