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Where airfares rose the most year-on-year – 2023 study

Robert by Robert
September 6, 2023
in Financial Advice
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Where Airfares Rose The Most Year On Year 2023 Study 64E620D519722
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Finding flights at a reasonable price is easier said than done, whether it’s for summer travel, family trips or just trying to book ahead of a holiday break. However, the data shows that what you pay largely depends on where you live: flight prices are rising much more at some airports than at others.

To find out where people and businesses are most affected by these changes, SmartAsset examined average domestic flight prices from 72 major airports over one year.

key findings

  • Airfare costs increased by an average of 16% across the US Domestic airfares averaged $382 in the first quarter of 2023, up from $328 a year earlier. The only airport with 100,000 or more passengers in 2022 that saw a price reduction was Kahului Airport in Hawaii.
  • Miami International Airport flight prices increased 31% year over year. The average flight out of Miami increased from $281 to $368 in early 2022 through 2023. Southwest Florida International Airport saw the second-highest increase in airfares, increasing nearly 26% from $293 to $368. Tampa International Airport also joined the top 10, with a 20.6% increase in fares.
  • Flights from these airports cost the most. The most expensive domestic flights are in Washington Dulles International ($487), Minneapolis-St. Paul International ($456), Charlotte Douglas International ($454), and Salt Lake City International ($449). Partly due to its geographic location, flights from Anchorage are the most expensive at $508 on average.
  • Airfare from New York City increased by about 20% on average. Flights from JFK ($424) turned out to be relatively more expensive than those from Newark ($400) and LaGuardia ($325). Of the three, Newark receives the most passengers, with approximately 850,000 passengers expected to fly in 2022. About 700,000 passengers will fly into JFK compared to LaGuardia’s 670,000 passengers.
  • Oakland’s airport can be a cheaper alternative to San Francisco. Flights from San Francisco International Airport saw a 16% increase in average fares nationwide — but fares at Oakland International Airport, a 45-minute drive away, only increased by about 5%. Flights from SFO cost an average of $422 compared to $276 from OAK.
  • Biggest hike in air fares

  • Miami International Airport
  • The average domestic flight out of MIA increases from $281 in early 2022 to $368 in 2023 – an increase of $87. Nearly half a million passengers (478,823) will travel through MIA in 2022.

  • Southwest Florida International Airport
  • Based in Fort Myers, RSW flight prices are about the same as the average for flights out of Miami in the first quarter of 2023: $369. This was followed by an increase of about 26% from $293 in 2022. The airport is smaller than MIA, which handled over 200,000 passengers last year.

  • Gerald R. Ford International Airport
  • GRR has increased domestic fares an average of 22.52% in one year, with flights from this Grand Rapids, MI airport going from $349 to $428. Last year only 109,000 people attended the Gerald R. Used Ford International.

  • Cleveland-Hopkins International Airport
  • Cleveland Hopkins International, about four hours southeast of GRR by car, saw a similar increase of 21.55% in airfares. Domestic flights from CLE increased from $287 to $348, affecting the roughly 250,000 passengers who use the airport a year.

  • Philadelphia International Airport
  • PHL airfare increased by 21.53% between Q1 2022 and Q1 2023. Last year the average domestic flight fare for more than 550,000 passengers was $334, which now averages $406.

  • John F Kennedy International Airport
  • Of the NYC area airports, JFK saw the largest increase in prices: 21.29%. The average flight last year was $350, compared to $424 in early 2023. Approximately 692,000 passengers will use JFK in 2022.

  • Minneapolis-St. Paul International Airport
  • In 2022 approximately 593,000 passengers will pass through MSP. Domestic airfares have increased by 21.16% since then, from $376 to $456.

  • Newark Liberty International Airport
  • An alternative to JFK for New Yorkers, EWR is the fifth largest airport by passenger count in 2022, with approximately 850,000 passengers passing through. Domestic flight prices from here became 20.85% more expensive over a one-year period, averaging $400 in the first quarter of 2023.

  • Tampa International Airport
  • As the third Floridian airport to make the top 10, TPA sees approximately 481,000 passengers in 2022. Airfare that year averaged $274, rising 20.61% to $331 by early 2023.

  • Ronald Reagan Washington National Airport
  • This DC access point in Arlington, VA had an average domestic flight price of $391 earlier this year, up from $325 in 2022. Around 488,000 passengers are expected to visit the tarmac in 2022.

    data and methodology

    The study compared data from the Bureau of Transportation Statistics for average airfare prices at US airports that saw 100,000 or more passengers in 2022. The data was from Q1 2023 and Q1 2022. The airports were ranked based on the percentage increase in fares.

    Financial Tips for Savvy Travelers

  • Set a budget so that you can set aside a little more money for trips. Sticking to a budget throughout the year can help you afford more airfare. SmartAsset’s budget calculator can help you get a clear picture of your current spending and see where cutting extra expenses can maximize your savings.
  • Be prepared for alternate flight dates and times to save money. Being flexible with your travel dates and even airports can help save money. However, don’t forget to budget for the difference in accommodation or car rental.
  • Want to Travel in Retirement? Create a financial plan that suits your lifestyle. Although retirees may have the free time to travel, not all of them have the savings to support it. If you want the financial freedom to travel in retirement, it may be worthwhile talking to a financial advisor. A financial advisor can help you assess your current savings strategy and create a plan for the future. SmartAsset’s free tool makes it easy to connect with someone.
  • Photo credit: ©iStock.com/ViktorCap

    Source

    Robert

    Robert

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