Rule #1: Spend $1,000-2,000 This may seem like a lot of money to some. To others, it may seem like too little. But this is a good starting point for newer riders who are motivated to get into cycling but aren't ready to eclipse the cost of their cars.
How much does the average person spend on a bike?
In 2019, the country's average expenditure on bicycles amounted to 23.85 U.S. dollars per consumer unit.
How much does a bike cost on average?
However, the following are average prices that you can work with: Road bike $350-700. Mountain bike $1000. Single-speed bike $400.
How Much Does owning a bike cost?
Based on an annual average cost of $350 to own a sturdy, quality bicycle, the average American will work 15.98 hours a year to pay for their bicycle, which works out to be 0.063927 hours per day - or 3.84 minutes a day.
What is a good amount to spend on a bike?
When buying new, 500-1,500 dollars is the optimum range for a good commuter bike. Anything under 500 dollars won't be suitable because it's not durable enough. The quality of its components will be lower and it will be very heavy.