The initial cost of a horse varies by breed, age, level of training and other factors, but the average price of hobby-horses is $3,000, according to survey respondents reported by the UMaine website. Prices typically range between a couple hundred dollars to several thousand dollars.
Among the purchase price of the horse, horses rack up other regular costs, including feed, board and healthcare, among others, states the UMaine website.
For feeding costs, horses require grain, hay, salt and minerals, and the amount they eat typically depends on their weight.
Boarding costs are another factor to consider, and different boarding facilities offer different degrees of services, such as stall cleanings and pasture time.
Vet fees and other healthcare costs are also a consideration for horse owners, as horses require regular check-ups and vaccinations to remain healthy.