Key Takeaways for Decision Makers
EQUIPMENT MANAGER/ESTIMATOR: Given the array of differing equipment rates per city and state, be sure to use EquipmentWatch’s regional adjustments in order to ensure you’re using the most accurate rates possible.
In November of 2016 EquipmentWatch ranked all 50 states based on the cost to own crawler mounted hydraulic excavators (see Cost of Owning Crawler Mounted Hydraulic Excavators: Where Does Your State Rank?). It was determined that Alaskan regions (north, south, central) took the top three spots making Alaska the most expensive state to own crawler mounted hydraulic excavators. Rounding out the list was New Mexico as the least expensive state.
It’s no secret that the cost to own equipment can even change from city to city within a state as per capita income, precipitation, and weather fluctuate. The table below takes a deeper dive and ranks cities in Alaska and New Mexico.
|Santa Fe||New Mexico||93.40%|
|Las Cruces||New Mexico||90.40%|
|Rio Rancho||New Mexico||90.30%|
Fairbanks, Alaska tops the list as the most expensive city while Albuquerque, New Mexico is the least expensive city. On average, and across all sizes, crawler mounted hydraulic excavators cost $10,409.00 to own per month, $2,915.00 to own per week, $758.00 to own per day, and $114.00 to own per hour. However, in Fairbanks the monthly ownership cost can increase to $15,197.14, almost $1,000 over the Alaska-North state adjustment (most expensive Alaskan region). Albuquerque, New Mexico is the least expensive city in the list to own crawler mounted hydraulic excavators with monthly ownership costs of $9,097.47, which is still slightly higher than the statewide costs overall.
[su_note note_color=”#EEE” text_color=”#555″]Want to learn more about our Cost Recovery product? Visit EquipmentWatch.com. [/su_note]