Here’s the Cost of an EV in Every State in 2026
The ups and downs of driving an electric vehicle, let alone buying one, may be getting an unfair reputation as of late. Over the last few years, environmentally conscious consumers have sung the praises of the new models of EVs coming out, only to find that the price point they actually pay depends on where they live. From state tax credits and incentives to electricity rates and registration fees, the average cost of owning an EV by state can vary by thousands of dollars per year.
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So buckle up, as MoneyLion did a deep dive into just how much having an electric car will cost you in every state, based on everything from how your credit score impacts the APR on your loan to just how much it costs to charge your battery fully.
Key Findings
The current average price of an EV in 2026 is around $55,221.
Your credit score can greatly affect the total you pay for your car based on interest alone. For example, in Louisiana, which is the most expensive state to own an EV, the total loan and interest paid is around $65,880 if you have excellent credit (a score of 780-850) and get an estimated 8.5% APR. However, if you have a fair credit score coming in at 619 or below, you’ll pay closer to $91,368 with an APR of 19.5%.
If you have an average credit score ranging between 620 and 699, and you bought an EV in Delaware, the least expensive state to own one, your monthly payments would be around $998, or $11,976 a year.
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If you’re thinking about buying an electric vehicle, here’s a complete, state-by-state breakdown of EV costs, counting down to the least expensive state. These amounts are based on someone who has a good credit score between 700 and 779.
50. Louisiana
Total six-year cost: $84,669
Total interest and loan paid: $68,688
Annual charging costs: $1,421.28
Average monthly car payment: $954
49. Illinois
Total six-year cost: $84,306
Total interest and loan paid: $68,760
Annual charging costs: $1,348.70
Average monthly car payment: $955
48. California
Total six-year cost: $84,165
Total interest and loan paid: $68,256
Annual charging costs: $1,409.18
Average monthly car payment: $948
47. Tennessee
Total six-year cost: $83,350
Total interest and loan paid: $68,040
Annual charging costs: $1,309.39
Average monthly car payment: $945
46. Washington
Total six-year cost: $83,236
Total interest and loan paid: $68,616
Annual charging costs: $1,194.48
Average monthly car payment: $953
45. West Virginia
Total six-year cost: $83,183
Total interest and loan paid: $66,168
Annual charging costs: $1,593.65
Average monthly car payment: $919
44. Arizona
Total six-year cost: $83,027
Total interest and loan paid: $67,608
Annual charging costs: $1,327.54
Average monthly car payment: $939
43. Alabama
Total six-year cost: $82,828
Total interest and loan paid: $67,536
Annual charging costs: $1,306.37
Average monthly car payment: $938
42. Arkansas
Total six-year cost: $82,794
Total interest and loan paid: $67,248
Annual charging costs: $1,348.70
Average monthly car payment: $934
41. Oklahoma
Total six-year cost: $82,665
Total interest and loan paid: $67,464
Annual charging costs: $1,291.25
Average monthly car payment: $937
40. Nevada
Total six-year cost: $82,432
Total interest and loan paid: $67,104
Annual charging costs: $1,312.42
Average monthly car payment: $932
39. New York
Total six-year cost: $82,373
Total interest and loan paid: $67,680
Annual charging costs: $1,206.58
Average monthly car payment: $940
38. Texas
Total six-year cost: $82,269
Total interest and loan paid: $67,104
Annual charging costs: $1,285.20
Average monthly car payment: $932
37. Wisconsin
Total six-year cost: $82,197
Total interest and loan paid: $67,032
Annual charging costs: $1,285.20
Average monthly car payment: $931
36. Pennsylvania
Total six-year cost: $82,143
Total interest and loan paid: $66,888
Annual charging costs: $1,300.32
Average monthly car payment: $929
35. Ohio
Total six-year cost: $82,089
Total interest and loan paid: $66,888
Annual charging costs: $1,291.25
Average monthly car payment: $929
34. North Dakota
Total six-year cost: $81,927
Total interest and loan paid: $66,672
Annual charging costs: $1,300.32
Average monthly car payment: $926
33. Colorado
Total six-year cost: $81,920
Total interest and loan paid: $67,608
Annual charging costs: $1,143.07
Average monthly car payment: $939
32. South Carolina
Total six-year cost: $81,605
Total interest and loan paid: $66,168
Annual charging costs: $1,330.56
Average monthly car payment: $919
31. New Jersey
Total six-year cost: $81,588
Total interest and loan paid: $65,952
Annual charging costs: $1,363.82
Average monthly car payment: $916
30. Minnesota
Total six-year cost: $81,308
Total interest and loan paid: $66,960
Annual charging costs: $1,149.12
Average monthly car payment: $930
29. Hawaii
Total six-year cost: $81,255
Total interest and loan paid: $64,512
Annual charging costs: $1,548.29
Average monthly car payment: $896
28. North Carolina
Total six-year cost: $81,204
Total interest and loan paid: $66,384
Annual charging costs: $1,227.74
Average monthly car payment: $922
27. Indiana
Total six-year cost: $81,188
Total interest and loan paid: $66,096
Annual charging costs: $1,273.10
Average monthly car payment: $918
26. Mississippi
Total six-year cost: $81,134
Total interest and loan paid: $66,096
Annual charging costs: $1,264.03
Average monthly car payment: $918
25. Florida
Total six-year cost: $81,025
Total interest and loan paid: $66,096
Annual charging costs: $1,245.89
Average monthly car payment: $918
24. Rhode Island
Total six-year cost: $81,006
Total interest and loan paid: $66,168
Annual charging costs: $1,230.77
Average monthly car payment: $919
23. New Mexico
Total six-year cost: $80,821
Total interest and loan paid: $66,600
Annual charging costs: $1,127.95
Average monthly car payment: $925
22. Idaho
Total six-year cost: $80,794
Total interest and loan paid: $65,448
Annual charging costs: $1,315.44
Average monthly car payment: $909
21. Kansas
Total six-year cost: $80,756
Total interest and loan paid: $67,896
Annual charging costs: $901.15
Average monthly car payment: $943
20. Georgia
Total six-year cost: $80,540
Total interest and loan paid: $65,448
Annual charging costs: $1,273.10
Average monthly car payment: $909
19. Connecticut
Total six-year cost: $80,519
Total interest and loan paid: $65,808
Annual charging costs: $1,209.60
Average monthly car payment: $914
18. Massachusetts
Total six-year cost: $80,393
Total interest and loan paid: $65,736
Annual charging costs: $1,200.53
Average monthly car payment: $913
17. Virginia
Total six-year cost: $80,377
Total interest and loan paid: $65,448
Annual charging costs: $1,245.89
Average monthly car payment: $909
16. Maine
Total six-year cost: $80,180
Total interest and loan paid: $65,088
Annual charging costs: $1,273.10
Average monthly car payment: $904
15. Michigan
Total six-year cost: $80,176
Total interest and loan paid: $65,592
Annual charging costs: $1,188.43
Average monthly car payment: $911
14. Missouri
Total six-year cost: $80,148
Total interest and loan paid: $66,816
Annual charging costs: $979.78
Average monthly car payment: $928
13. Vermont
Total six-year cost: $80,116
Total interest and loan paid: $66,240
Annual charging costs: $1,070.50
Average monthly car payment: $920
12. Nebraska
Total six-year cost: $80,061
Total interest and loan paid: $66,312
Annual charging costs: $1,049.33
Average monthly car payment: $921
11. Kentucky
Total six-year cost: $79,996
Total interest and loan paid: $65,376
Annual charging costs: $1,194.48
Average monthly car payment: $908
10. Utah
Total six-year cost: $79,970
Total interest and loan paid: $66,456
Annual charging costs: $1,010.02
Average monthly car payment: $923
9. Wyoming
Total six-year cost: $79,856
Total interest and loan paid: $64,728
Annual charging costs: $1,279.15
Average monthly car payment: $899
8. South Dakota
Total six-year cost: $79,360
Total interest and loan paid: $65,592
Annual charging costs: $1,052.35
Average monthly car payment: $911
7. Maryland
Total six-year cost: $79,178
Total interest and loan paid: $65,592
Annual charging costs: $1,022.11
Average monthly car payment: $911
6. Iowa
Total six-year cost: $79,089
Total interest and loan paid: $65,448
Annual charging costs: $1,031.18
Average monthly car payment: $909
5. Alaska
Total six-year cost: $77,870
Total interest and loan paid: $61,272
Annual charging costs: $1,524.10
Average monthly car payment: $851
4. New Hampshire
Total six-year cost: $77,145
Total interest and loan paid: $61,200
Annual charging costs: $1,415.23
Average monthly car payment: $850
3. Montana
Total six-year cost: $76,400
Total interest and loan paid: $61,272
Annual charging costs: $1,279.15
Average monthly car payment: $851
2. Oregon
Total six-year cost: $76,236
Total interest and loan paid: $61,416
Annual charging costs: $1,227.74
Average monthly car payment: $853
1. Delaware
Total six-year cost: $75,421
Total interest and loan paid: $61,200
Annual charging costs: $1,127.95
Average monthly car payment: $850
Methodology: For this piece, MoneyLion first obtained the average transaction price for an electric vehicle in the U.S. ($55,211), based on Kelley Blue Book’s April 2026 data. MoneyLion then assumed that one would place a 13.5% down payment and take out a 72-month (6-year) loan to pay for the electric vehicle. MoneyLion looked at a purchaser with Excellent, Good, Average, and Fair Credit set at 7.0%, 8.5%, 14.5%, and 19.5% APR, respectively. With these figures, MoneyLion was able to find the monthly car payment across all four levels of credit, at 13.5% down, applicable state sales tax applying as well as title and registration fees, using Cars.com's auto loan calculator. MoneyLion also found the average charging cost/kWh for each state from AAA’s data as of May 20, 2026. MoneyLion was then able to find monthly and annual charging costs for each state, assuming a 63kWh battery, averaging 245 miles per full charge, driving 1,000 miles a month, and charging from empty to full. For final calculations, MoneyLion found the total six-year cost across all four levels of credit, which included (1) down payment, (2) total interest and loan paid, and (3) six years of typical charging costs. For final rankings, only the total six-year costs for Good Credit (700-779) were taken into consideration, considering the average credit score in the U.S. is 714. All data was collected on and is up to date as of May 20, 2026.
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This article was provided by MoneyLion.com for informational purposes only and should not be construed as financial, legal or tax advice.
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