Can You Afford To Buy a Christmas Tree This Year?
The holiday season will be a financially trying one for many Americans this year. A recent GOBankingRates survey found that 14% of Americans feel pressure to spend more than they are comfortable with this season and 11% say they will go into debt due to holiday spending. This is largely due to rising costs on everything from food for holiday entertaining to gifts and decor.
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Unfortunately for everyone who loves a festively decorated home, Christmas trees are among the holiday items that will be more expensive this year than last due to higher operating costs and soaring inflation. This has put live Christmas trees out of the budget for some Americans, with 7% telling GOBankingRates they will not be buying a live Christmas tree this year due to rising costs.
How Much Will Live Trees Cost in 2022?
The median cost for Christmas trees was $81 in 2020, Fortune reported, and costs were about 5% higher last year, according to Consumer Reports, making the median price for a live Christmas tree $85 in 2021.
According to a recent survey of 55 wholesale growers of real Christmas trees across the U.S. conducted by the Real Christmas Tree Board, the majority of growers plan to raise their prices by 5% to 15% this year. That means you can expect to pay around $89 to $94 for a live Christmas tree for the current holiday season. Of course, prices will vary depending on the size and quality of your tree, as well as where in the U.S. you live.
How Much Will Artificial Trees Cost in 2022?
Artificial trees typically have a higher upfront cost than live trees, but you can reuse the tree for years to come, which can be a money saver over time. Here’s a look at the cost of a sample of artificial trees at popular retailers.
Costco
You can buy a 7-Foot to 9-Foot Adjustable Grow & Stow Pre-Lit LED Artificial Christmas Tree for $599.99 or a 7.5-Foot Pre-Lit Radiant Micro LED Artificial Christmas Tree for $499.99.
Home Depot
Home Depot sells the Home Decorators Collection 7.5-Foot Grand Duchess Balsam Fir Christmas Tree for $349 and the 9-Foot version for $499.
Lowe’s
An affordable find, the GE 7-Foot Colorado Spruce Pre-lit Traditional Artificial Christmas Tree with LED Lights is on sale at Lowe’s for $238. Or you can opt for the GE 7.5-Foot Highlands Pine Pre-lit Traditional Artificial Christmas Tree with LED Lights for just $158.
Target
Target has a wide range of artificial Christmas trees for under $100, including the 7-Foot Pre-Lit Alberta Artificial Christmas Tree with Clear Lights for $88 and the 6-foot version for just $48.
Walmart
Walmart also has artificial trees at low prices, including the Holiday Time 7.5-Foot Pre-Lit Flocked Frisco Pine Artificial Christmas Tree for $119 and the Holiday Time 6.5-Foot Arlington Tree with 300 Clear Incandescent Mini Lights for $89.
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Methodology: GOBankingRates surveyed 1,025 Americans ages 18 and older from across the country between Oct. 17 and Oct. 21, 2022, asking 18 questions: (1) Do you plan on spending more or less on holiday shopping this year?; (2) With the current state of inflation, how much more do you expect to spend on holiday shopping this year?; (3) What is your favorite place to shop for the holidays?; (4) Do you have to change any of the following holiday traditions this year due to rising costs?; (5) Where do you do the majority of your holiday shopping?; (6) How much do sales factor into your holiday shopping?; (7) How much time do you take off from work during the holidays?; (8) How much would you typically spend on a gift for a family member?; (9) How much would you typically spend on a gift for a friend?; (10) Where have you noticed rising prices for holiday shopping/expenses this year? (Select all that apply); (11) When did you start or plan to start your holiday shopping this year?; (12) As the holiday season approaches, which of the following applies to you?; (13) How much do you plan to spend exclusively on gifts this holiday season?; (14) How much do you plan to spend on travel during the holidays?; (15) Who do you tip for the holiday season?; (16) Do you tip extra to service workers (food delivery, Uber, hairdresser, etc.) during the holidays?; (17) What is the primary way you plan on paying for your holiday spending?; and (18) What holiday purchases do you make at the dollar store? (Select all that apply). GOBankingRates used PureSpectrum’s survey platform to conduct the poll.
This article originally appeared on GOBankingRates.com: Can You Afford To Buy a Christmas Tree This Year?
