How Much Does It Really Cost to Live in an RV for a Year?

Like, say,just living in an RV.

So is eschewing your dreams of a home and buying an RV a smart financial move?

Lets estimate the costs of living in an RV for a year.

If youre not driving the RV much, gas might not be a huge part of your budget.

How fancy are you?

How much space do you need?

The size of the RV youll be living in affects your up-front and monthly costs.

There is a wide range of options with a broad range of prices.

The average RV financing payment isbetween $250 and $450 per month.

Having an RV is one thing, keeping it moving is something else.

And like any house or vehicle, youll need insurance for your RV.

The average cost of full-time RV insurance is about$1,500 a year.

When shopping for an RV, choosing between diesel and regular gas requires some thought.

Generally, diesel will be more expensive per gallon, but give you better mileage.

For our purposes, lets stipulate gas will cost you about $5.50 per gallon.

The next thing to consider is your RVs mileage and how much youre going to drive it.

The basic equation is simple: The distance divided by the MPG multiplied by the cost per gallon.

Smaller Class C RVs are little better at 10-13 MPG.

For our purposes, lets average that all out to 9 MPG.

And you shouldnt drive for more than a few hours at a time.

So lets lowball the daily driving estimate and say 200 miles a week.

Propane

Another consideration is propane, which most rigs rely on for cooking fuel and heating.

Lets split the difference and estimate $250 per month for propane, or $3,000 a year.

Private campgrounds.Private campgrounds typically offer the most in terms of amenities, but everything comes at an extra cost.

you’re free to knock that price down by switching to a monthly rent in many cases.

For the purposes of our estimate, lets assume youll be using a mix of free and paid campsites.

Youll spend about $7,000 a year on parking fees.

One cost many people overlook is internet access.

Splitting the difference, lets assume youll pay about $1,200 a year all-in for internet and phone plans.

So, lets tally that up.

Theres no right or wrong way to do the RV thing, after all.