EV vs Gas Car Total Cost of Ownership 2026, All 50 States, 5-Year Window
The 5-year out-of-pocket math on owning an EV vs an equivalent gas car, computed for every US state using current EIA fuel rates, NAIC insurance averages, AAA maintenance data, and iSeeCars 5-year depreciation curves. Without the ended $7,500 federal credit, EV wins in 5 of 50 states; the 50-state average EV savings is -$1,277.
Methodology: 60,000 miles total (12K/yr × 5 yr), EV 3.0 mi/kWh, gas 28 mpg, no federal credit applied (the $7,500 credit ended for EVs acquired after Sept 30, 2025). State spread is the headline finding: national averages mask a $5,000+ savings range across the country.
TL;DR
- EV wins in 5 of 50 states on 5-year TCO
- Average EV savings (negative = gas cheaper): -$1,277 over 5 years
- Top 3 EV-saver states: Washington, Nevada, Oregon
- Worst 3 EV-saver states: Hawaii, Massachusetts, Connecticut
- Hawaii: highest electricity ($0.45/kWh) eliminates EV fuel advantage
- Tesla retention bonus adds ~$5,000 to EV savings if you buy a Tesla specifically
5-Year TCO by State (Sorted by EV Savings)
| State | Gas $/gal | Home $/kWh | EV Fuel 5yr | Gas Fuel 5yr | EV Total 5yr | Gas Total 5yr | EV Savings |
|---|---|---|---|---|---|---|---|
| Washington | $3.95 | $0.114 | $2,280 | $8,464 | $37,515 | $38,759 | $1,244 |
| Nevada | $4.18 | $0.142 | $2,840 | $8,957 | $41,265 | $42,102 | $837 |
| Oregon | $3.85 | $0.124 | $2,480 | $8,250 | $38,220 | $38,995 | $775 |
| Utah | $3.55 | $0.110 | $2,200 | $7,607 | $36,260 | $36,852 | $592 |
| Idaho | $3.42 | $0.115 | $2,300 | $7,329 | $35,240 | $35,574 | $334 |
| Arizona | $3.62 | $0.135 | $2,700 | $7,757 | $39,725 | $39,652 | $-73 |
| Wyoming | $3.42 | $0.119 | $2,380 | $7,329 | $38,570 | $38,474 | $-96 |
| Montana | $3.32 | $0.116 | $2,320 | $7,114 | $38,060 | $37,859 | $-201 |
| North Dakota | $3.18 | $0.119 | $2,380 | $6,814 | $36,440 | $36,059 | $-381 |
| North Carolina | $3.18 | $0.131 | $2,620 | $6,814 | $36,960 | $36,309 | $-651 |
| New Mexico | $3.32 | $0.149 | $2,980 | $7,114 | $38,525 | $37,684 | $-841 |
| Nebraska | $3.05 | $0.122 | $2,440 | $6,536 | $37,675 | $36,831 | $-844 |
| South Dakota | $3.05 | $0.130 | $2,600 | $6,536 | $36,660 | $35,781 | $-879 |
| Virginia | $3.18 | $0.143 | $2,860 | $6,814 | $37,200 | $36,309 | $-891 |
| Tennessee | $3.05 | $0.124 | $2,480 | $6,536 | $38,220 | $37,281 | $-939 |
| West Virginia | $3.18 | $0.149 | $2,980 | $6,814 | $37,040 | $36,059 | $-981 |
| Oklahoma | $3.05 | $0.116 | $2,320 | $6,536 | $39,965 | $38,981 | $-984 |
| Pennsylvania | $3.45 | $0.169 | $3,380 | $7,393 | $39,570 | $38,538 | $-1,032 |
| Illinois | $3.42 | $0.165 | $3,300 | $7,329 | $39,715 | $38,674 | $-1,041 |
| Ohio | $3.18 | $0.155 | $3,100 | $6,814 | $36,600 | $35,559 | $-1,041 |
| Iowa | $3.05 | $0.144 | $2,880 | $6,536 | $36,380 | $35,281 | $-1,099 |
| Arkansas | $2.95 | $0.119 | $2,380 | $6,321 | $38,820 | $37,691 | $-1,129 |
| Indiana | $3.15 | $0.155 | $3,100 | $6,750 | $37,160 | $35,995 | $-1,165 |
| Minnesota | $3.18 | $0.151 | $3,020 | $6,814 | $38,650 | $37,459 | $-1,191 |
| South Carolina | $3.05 | $0.137 | $2,740 | $6,536 | $38,535 | $37,331 | $-1,204 |
| Missouri | $3.05 | $0.137 | $2,740 | $6,536 | $38,930 | $37,681 | $-1,249 |
| Kentucky | $3.05 | $0.131 | $2,620 | $6,536 | $40,545 | $39,231 | $-1,314 |
| California | $4.85 | $0.314 | $6,280 | $10,393 | $46,445 | $45,088 | $-1,357 |
| Wisconsin | $3.18 | $0.171 | $3,420 | $6,814 | $37,480 | $36,059 | $-1,421 |
| Delaware | $3.18 | $0.158 | $3,160 | $6,814 | $39,935 | $38,484 | $-1,451 |
| Mississippi | $2.92 | $0.137 | $2,740 | $6,257 | $38,760 | $37,252 | $-1,508 |
| Colorado | $3.18 | $0.156 | $3,120 | $6,814 | $40,875 | $39,359 | $-1,516 |
| Maryland | $3.32 | $0.176 | $3,520 | $7,114 | $40,380 | $38,859 | $-1,521 |
| Alabama | $3.05 | $0.149 | $2,980 | $6,536 | $39,480 | $37,956 | $-1,524 |
| Kansas | $3.02 | $0.149 | $2,980 | $6,471 | $39,170 | $37,616 | $-1,554 |
| Louisiana | $3.05 | $0.123 | $2,460 | $6,536 | $44,135 | $42,581 | $-1,554 |
| Georgia | $3.05 | $0.143 | $2,860 | $6,536 | $40,815 | $39,256 | $-1,559 |
| Texas | $3.05 | $0.146 | $2,920 | $6,536 | $40,790 | $39,181 | $-1,609 |
| Alaska | $3.78 | $0.244 | $4,880 | $8,100 | $39,805 | $38,120 | $-1,685 |
| New Jersey | $3.32 | $0.184 | $3,680 | $7,114 | $41,660 | $39,859 | $-1,801 |
| Florida | $3.32 | $0.158 | $3,160 | $7,114 | $46,795 | $44,909 | $-1,886 |
| Vermont | $3.32 | $0.215 | $4,300 | $7,114 | $37,800 | $35,859 | $-1,941 |
| New York | $3.45 | $0.219 | $4,380 | $7,393 | $41,800 | $39,638 | $-2,162 |
| Michigan | $3.32 | $0.193 | $3,860 | $7,114 | $45,735 | $43,334 | $-2,401 |
| New Hampshire | $3.32 | $0.245 | $4,900 | $7,114 | $38,455 | $35,909 | $-2,546 |
| Rhode Island | $3.32 | $0.247 | $4,940 | $7,114 | $42,920 | $39,859 | $-3,061 |
| Maine | $3.32 | $0.273 | $5,460 | $7,114 | $38,960 | $35,859 | $-3,101 |
| Connecticut | $3.45 | $0.275 | $5,500 | $7,393 | $44,040 | $40,638 | $-3,402 |
| Massachusetts | $3.42 | $0.305 | $6,100 | $7,329 | $41,895 | $38,124 | $-3,771 |
| Hawaii | $4.62 | $0.450 | $9,000 | $9,900 | $44,795 | $40,695 | $-4,100 |
Sources: EIA Weekly Retail Gasoline Prices (April 2026), EIA State Electricity Profile, NAIC 2025 Auto Insurance State Averages, AAA Driving Costs 2026, iSeeCars 5-Year Depreciation Study 2025, KBB Q1 2026 New Vehicle Pricing.
Methodology
Fuel cost. EV: 60,000 mi ÷ 3.0 mi/kWh = 20,000 kWh × state home electricity rate (EIA monthly state profile, April 2026 release). Gas: 60,000 mi ÷ 28 mpg = 2,143 gallons × state retail gas price (EIA Weekly Retail Gasoline, April 2026 average). Assumes 100% home charging, public/DCFC charging would shrink EV savings by 20-40% if used heavily.
Insurance. NAIC 2025 Auto Insurance Database state averages, EV premium scaled +12% per Insurance Information Institute analysis (EVs cost 27% more to repair on average due to battery proximity to crash zones, but premium uplift is moderated by lower fatality rates). 5 years × annual.
Maintenance. AAA Your Driving Costs 2026 national average: gas $0.094/mile, EV $0.061/mile. EV difference comes from no oil changes, no transmission fluid, no spark plugs, fewer brake replacements (regenerative braking captures ~70% of friction-brake events). 60,000 miles × per-mile cost.
Depreciation. iSeeCars 5-Year Depreciation Study (released March 2025): gas vehicles retain 60% of MSRP over 5 years, EV segment retains 51% (Tesla 64%, Ford F-150 Lightning 41%, Volkswagen ID.4 38%, GM EV avg 45%, Hyundai Ioniq 5/6 53%). Depreciation = (purchase price - retention × MSRP). EV purchase price is full MSRP, no federal credit is subtracted because the $7,500 Clean Vehicle Credit ended for vehicles acquired after September 30, 2025.
Vehicle MSRP baseline. KBB Q1 2026: average new EV transaction price $48,500 (excludes Lucid/Rivian/Cybertruck high-end), average new gas/hybrid transaction price $44,200. Comparable-class vehicles (e.g. mid-size sedan or compact SUV).
Excluded. Financing interest (similar between EV/gas), registration fees, public/DCFC charging cost, state EV credits, HOV-lane benefit, home charger installation, employer charging, time-of-use electricity discounts. Adding state-level credits would expand EV savings by $1,500-$5,500 in 11 states.
Frequently Asked Questions
In which states does an EV save the most money in 2026?
Top 5 states by 5-year EV savings (12,000 mi/yr): Washington ($1,244), Nevada ($837), Oregon ($775), Utah ($592), Idaho ($334). The pattern: low electricity rates + high gas prices + high insurance markets favor EVs the most. California is mid-pack despite high gas because electricity is also expensive. Florida and Michigan rank high mainly because of brutal insurance markets where the gas-vs-EV insurance differential is offset by other savings.
In which states does a gas car still win on TCO?
Bottom 5 states by EV savings (gas wins or near-tie): Hawaii ($-4,100 gas wins), Massachusetts ($-3,771 gas wins), Connecticut ($-3,402 gas wins), Maine ($-3,101 gas wins), Rhode Island ($-3,061 gas wins). The pattern: high electricity rates + low gas prices + low EV depreciation retention drag the EV math. Hawaii is the most extreme, $0.45/kWh home electricity essentially eliminates the fuel-cost advantage of an EV.
How is the 5-year TCO calculated?
Four cost categories summed over 5 years for both vehicles: (1) Fuel, gas: 60K miles ÷ 28 mpg × state gas price. EV: 60K miles ÷ 3.0 mi/kWh × state home electricity rate. (2) Insurance, NAIC 2025 state averages, EV premium +12% (EVs are pricier to repair). (3) Maintenance, AAA 2026: gas $0.094/mile, EV $0.061/mile (no oil changes, fewer brakes due to regen, fewer fluids). (4) Depreciation, iSeeCars 5-year retention: gas avg 60%, EV avg 51%. No federal EV credit is applied: the $7,500 Clean Vehicle Credit ended for vehicles acquired after September 30, 2025. Vehicle MSRPs from KBB Q1 2026: EV $48,500 avg vs gas $44,200 avg.
What about Tesla specifically vs gas cars?
Tesla has best-in-class EV depreciation: 64% 5-year retention vs 51% EV-segment average (iSeeCars 2025). Plug a Tesla-only retention rate into the formula and EV savings increase by $4,000-$6,000 per state. Counter-point: Tesla MSRPs run $5,000-$15,000 higher than the segment-average EV in our model. The depreciation advantage roughly offsets the higher purchase price. Net for Tesla owners in 2026: TCO is comparable to or slightly better than the average EV in the same state.
Does the federal $7,500 EV tax credit still apply in 2026?
No. The One Big Beautiful Bill Act (P.L. 119-21) ended the Section 30D Clean Vehicle Credit (up to $7,500) and the Section 25E used EV credit (up to $4,000) for vehicles acquired after September 30, 2025, so a 2026 purchase gets $0 federal credit and this TCO model applies none. While it existed, the new-EV credit required North American assembly, battery sourcing thresholds, MSRP caps of $55K for cars / $80K for SUVs and trucks, and buyer income under $150K single / $300K joint. State EV incentives (e.g. Colorado) are separate and may still apply.
What if I drive 20,000 miles per year instead of 12,000?
High-mileage drivers favor EVs more strongly. The fuel cost differential is the dominant variable that scales linearly with mileage; depreciation and insurance are mostly mileage-independent. At 20K mi/year × 5 years = 100K miles total, multiply the fuel-component savings by 1.67×. A driver in California saving $4,000 on EV fuel at 60K miles saves ~$6,700 at 100K miles, while insurance and depreciation deltas stay constant. EV crosses the savings threshold in 5-7 more states at 20K mi/year vs 12K mi/year.
How does this compare to other TCO calculators (Edmunds, KBB, AAA)?
Edmunds True Cost to Own and KBB 5-Year Cost to Own use national averages and a single MSRP-based comparison; they do not break out by state. AAA Driving Costs is national and includes finance/registration which we exclude (interest rates and registration fees are similar enough between EV and gas to not change the ranking). Our methodology uses the actual EIA monthly state-level fuel/electricity rates and NAIC state-level insurance, which are the two largest sources of state-by-state variance in TCO outcomes. National-average calculators understate the state spread.
What is NOT included in this TCO comparison?
Excluded: financing interest (similar between EV and gas), registration fees (small variance, Some states charge $50-$200/yr extra for EVs to offset gas tax), home charger installation ($800-$2,500 one-time, applies once per household and may carry over to next EV), public/DCFC charging cost (relevant for road trips, ~$0.43/kWh average, irrelevant for the 80%+ of charging done at home), state EV tax credits (CO $5,000, NY $2,000, NJ sales tax exemption, etc., would further widen EV savings in those states), HOV lane access value, employer charging, depreciation if you keep car >5 years (EV gap narrows or reverses past year 8), maintenance cliff at year 5+ (gas: transmission, alternator, water pump; EV: motor, battery, battery replacement is the wildcard at year 8-12).