How Much Is an Airplane Rental?

Whether you’re looking for a way to keep your flying skills sharp or an opportunity to take a family member up on their first private flying adventure, let’s explore the different types of rental options and find the one that best fits your budgeting needs.

Renting is a great way to take advantage of your pilot’s license without the financial burden of owning an aircraft. From hourly rentals to more long-term options, let’s explore how the rental process works and the different rental plans available to you.

When renting an airplane on an hourly basis, the rental rate is calculated based on the number of hours the airplane is in operation (such as flight time, Hobbs time, checkout/in time, etc.) Hourly rates vary based on the aircraft type, engine capacity, and other operating factors determined by the rental company.

The pros of hourly rentals include paying only for the hours you fly, flexibility to try different aircraft, and no ownership responsibilities. The cons include higher hourly costs, the need to proactively plan due to availability constraints, and the need for additional insurance coverage.

When renting an airplane on a daily/weekly basis, the rental rate is based on the number of days/weeks the airplane is in the possession of the renter. Once again, daily/weekly rates vary based on aircraft type and other factors determined by the rental company, and the pros and cons are like those of hourly rentals.

Joining a flying club/rental program allows pilots access to shared aircraft. These flying clubs can be affordable due to shared costs among club members, while still giving the members a sense of ownership. They also create a sense of community among pilots and often offer a wide range of aircraft to choose from.

Caveats to flying clubs include regular membership fees and the need for scheduling coordination with other members, which can be tricky during peak times/seasons. Also, shared responsibility for the aircraft can be challenging when important decisions must be made (such as upgrades, maintenance, club activities, etc.)

A wet rental is an agreement with fuel costs included, while a dry rental is an agreement that makes the pilot responsible for the cost of fuel in addition to the rental fees. 

The biggest pro of a wet rental is that it allows the pilot to know up front what the final cost will be and show up to the aircraft with peace of mind and a full tank of gas. The biggest pro of a dry rental is that it allows the pilot to find cheaper fuel options elsewhere and teaches them fuel management skills.

Every rental company has a unique pricing structure, and its costs vary from aircraft to aircraft, region to region, etc. Several factors influence the way rental fees are determined, including:

Rental costs are heavily dependent on a multitude of factors (such as aircraft type, aircraft age and condition, etc.). Therefore, when it comes to determining rental rates, a cost calculator is often used to determine a more precise hourly rate. Because rates vary even within an aircraft type (old versus new Cessna 172s), the following average rental rates are provided:

Although we’re discussing the benefits of renting an aircraft, sometimes it may be more cost-effective to take the leap into aircraft ownership. Let’s explore what it would cost, on average, to rent versus own a single- or multiengine piston aircraft.

Hourly rates vary based on the airplane size and engine capacity, and for a single- or multiengine piston aircraft hourly rates can range anywhere between $120 and $500 per hour. On average, recreational pilots fly about 50 hours per year, spending anywhere between $6,000 and $25,000 in rental fees.

Now, when you start to fly more than the average 50 hours per year, this may be the time to consider aircraft ownership. When purchasing an aircraft, there are initial and ongoing costs that must be considered and budgeted for. Depending on the aircraft year, model, and engine(s), a blanket price of approximately $50,000 can be expected. 

On top of it, ongoing monthly payments, hangar/tie-down fees, insurance, fuel, and maintenance/repairs can put your annual spending well over $20,000. If your budget allows it, buying an airplane may be worth serious consideration.

When we start to look at private jet costs, the numbers increase significantly both from the rental and ownership perspectives. However, just like with smaller single- and multiengine piston aircraft, the decision comes down to your budget and frequency/method of use. Therefore, if you are in the market for a private jet, make sure to explore the pros, cons, and luxury of private jet travel. 

If you’re consistently renting the most expensive airplane options, purchasing a plane may be worth the cost. Also, as a guide, if you fly more than 50 hours a year, it’s more economical to buy a plane than rent one. After also taking initial and ongoing costs into consideration, you can quickly determine whether aircraft ownership is in your future.

There are several affordable options to consider when renting an aircraft. Each option has its pros and cons, but chances are you will be able to find at least one in your area that fits your needs.

We have discussed several factors and options to consider in finding the best rental option for your budget and needs. Now what? It’s your turn to do the research in your area to find the right flight school, FBO, private renter, or flying club to meet your flying goals.

What does a Cessna 172 rent for?

$120 to $200 per hour, depending on the year it was manufactured and which equipment (such as autopilot and modern avionics) has been installed.

Is it better to rent or buy a plane?

It depends on your budget and how often you fly. Generally, if you fly more than 50 hours a year and can afford the initial and ongoing costs of owning an aircraft, it’s better to purchase. On the other hand, if you fly less than 50 hours a year, it’s more economical to rent.

Is it affordable to fly private?

Yes, private jet travel is more accessible than ever under certain circumstances. To keep costs down, consider taking scheduled private jet flights, joining membership programs, and flying on smaller aircraft and into smaller airports.