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Kelly Giffear and Brittany Scott projected yearly costs for raising small, medium, large and giant breeds. The average cost for the first year of raising small dogs was $2674; medium dogs on the average cost $2889; the cost for large dogs is $3239 and giant breeds such as Great Danes have an annual cost of $3536. The average first year cost across all sizes was $3085.
The data may also signal fatter times ahead for America's pets. Americans age 55 to 64 spent the most on their pets of any age group, at $636 per year, in 2011. In addition, homeowners spent $653 on average, compared to renters, at $221. With baby boomers entering retirement and a housing recovery in place, that may mean the population willing to spend big on their animals is about to grow.