Refrigerators, especially modern ones, are an essential part of any modern home. They help us keep our food fresh and healthy, preserve leftovers, and reduce the frequency of grocery shopping trips. However, purchasing a refrigerator can be quite an investment, especially if you’re looking for a high-end model with all the bells and whistles.
Here’s what you need to know about the average price of refrigerators in 2023 to make informed decisions when purchasing your next fridge.
Factors that Affect Refrigerator Prices
The cost of a refrigerator depends on several factors such as size, brand, features, style (side-by-side or French door), energy efficiency rating (EER), and so forth. Here are some key considerations:
Size
The larger the fridge is; the more expensive it will be because it takes up more space in your kitchen. The most common sizes range between 18-25 cubic feet capacity which should suffice for most households’ daily needs.
Brand
There are numerous brands available on the market today ranging from budget-friendly options like Frigidaire to luxury American models like Sub-Zero. As expected higher end-brands come at a premium when compared to lower-priced counterparts.
Features
Features greatly impact pricing as well including things like ice makers/water dispensers; smart technology that allows remote control via phone application or even voice command assistance; adjustable shelving & storage compartments among others.
Style
Style also influences pricing i.e., side-by-side fridges tend to be less expensive than French doors since they have fewer features while still offering ample storage space.
Average Price of Refrigerators in 2023 by Type
Now let’s break down prices based on different types/categories:
- Top Freezer: These are generally budget-friendly models that offer reliable performance but limited storage capacity ($500 – $1000).
- Bottom Freezer: This type offers more storage space than top freezers and is more convenient since the fridge section is at eye level. They can cost anywhere from $1000 – $2500.
- Side-by-Side: These models offer a relatively equal amount of freezer and fridge space, but less in both areas when compared to French doors. Prices range from $1500-$3000.
- French Door: This style has become increasingly popular due to its spaciousness, features like ice makers/water dispensers; smart technology, etc., making it one of the most expensive options on our list with prices ranging between $2000-$5000.
| Type of Refrigerator | Average Cost Range |
|---|---|
| Top/Bottom Freezer | $500-$1,500 |
| Side-by-Side | $800-$2,500 |
| French Door | $1,000-$4,000 |
Table 2: Average Cost by Popular Brands
| Brand | Average Cost Range |
|---|---|
| LG | $800-$3,000 |
| Samsung | $1,000-$3,500 |
| Whirlpool | $600-$2,500 |
| Sub-Zero | $6,000-$12,000 |
| Viking | $4,600-$15,000 |
| Thermador | $5,000-$14,499 |
Table 3: Average Cost by Refrigerator Size and Capacity
| Refrigerator Size and Capacity | Average Cost Range |
|---|---|
| Small (Less than 20 cubic feet) | $500-$2,500 |
| Medium (20-25 cubic feet) | $800-$4,500 |
| Large (more than 25 cubic feet) | $1,000-$20,000 |
Table 4: Average Cost of Energy Star Certified Refrigerators
| Type of Refrigerator | Average Cost Range |
|---|---|
| Top/Bottom Freezer | $600-$5,000 |
| Side-by-Side | $900-$10,500 |
| French Door | $1,200-$20,000 |
Table 5: Average Cost of Refrigerator Trends
| Refrigerator Trends | Average Cost Range |
|---|---|
| Smart Refrigerators | $1,500-$20,000 |
| Energy-Efficient Refrigerators | $800-$10,000 |
| Flexible Storage Options | $1,000-$10,500 |
These tables can help compare the different factors that impact the cost of a refrigerator and help homeowners make an informed decision when purchasing a new refrigerator.
Energy Efficiency Rating (EER)
Purchasing an energy-efficient model might also save you some money in the long run as they consume less electricity over time. The EER rating system uses a scale of A+ (most efficient) to G (least efficient) with each letter indicating how much energy consumption per year measured by kilowatt-hours.
It’s important to note that although these models may be more expensive upfront, their low operating costs should offset this initial investment within just a few years worth of use alone.
Tips for Saving Money When Purchasing Refrigerators
Here are some tips that could help you reduce your overall expenses when shopping for refrigerators:
1) Shop during sales/promotions
Most retailers offer promotions during holidays such as Black Friday or Cyber Monday among others where you can find discounts up to 50% off original pricing so keep an eye out for these deals!
2) Consider buying used/refurbished models
Used or refurbished fridges are often cheaper than new ones while still offering similar performance levels plus warranties might cover them too depending on where purchased from which could prove beneficial if any issues arise down the line.
Related: how to get rid of an old refrigerator (an expert’s top secret)
3) Check out local classifieds/online marketplaces
You may score great deals on second-hand refrigerators, especially from sellers who are moving or upgrading.
4) Look for models with an energy star rating
As previously mentioned, these models may cost more initially but will save you money in the long run on your electricity bills.
Conclusion
In conclusion, purchasing a new refrigerator doesn’t have to break the bank. It’s important to consider key factors such as size, brand name, features & style when deciding which model best fits your needs and budget.
Furthermore, we’ve seen prices vary depending on the type of fridge purchased ranging from $500 – $1,000. Keeping this in mind plus following our tips for saving money could result in significant savings while still getting a quality product!
FAQs
Which fridge is best at a low price?
Top-freezer refrigerators are generally the best choice for those on a tight budget. They offer basic features at an affordable rate with models starting from $399.
What is the average price for a smart fridge?
Smart fridges can be quite expensive, and their prices vary depending on the brand, size, and features. The current average price ranges between $1,500 to $12,000.
What is the most expensive part of a refrigerator?
The compressor system tends to be among one the most costly parts given its critical role in keeping all other components working efficiently.
What is the best brand of fridge to buy?
Several brands make excellent refrigerators like LG, Samsung, Whirlpool & GE; however, it’s important to research each model’s specs before making your final decision.
Do expensive fridges last longer?
Not necessarily. Although high-end models may come with better build quality or more advanced features that enhance longevity, the lifespan still depends on maintenance practices.
Is it cheaper to buy a new fridge?
In some cases yes especially when upgrading old appliances past their prime age range or when considering higher energy efficiency savings over time
Why are refrigerator prices so high?
Refrigerator prices increase every year due to added convenience functions, improved technological options as well as production costs which factor into retail pricing.
Which is better? single-door or double-door refrigerator?
Double-door fridges fall into two categories: side-by-side (two doors open horizontally) or French doors (one lower freezer drawer and two upper doors). Single-door models work fine for smaller families while larger households will need bigger capacity double doors such as French doors that allow them to store more food items without difficulty accessing either compartment.
How long do cheap refrigerators last?
Cheap refrigerators may not have the same longevity period compared to premium ones but they can still serve you well for up to 10 years with proper use and maintenance
Are fridge prices up?
Yes, prices fluctuate depending on production costs, components used in manufacturing as well as demand levels. However, the current average prices remain steady with top-freezer fridges selling between $399 -$999 while high-end models like smart-enabled refrigerators cost upwards of $2500-$3000.
