How Much Does a Funeral Cost?

When it comes to big life events — college, marriage, raising a child, retirement — people often spend a lot of time planning for them. However, death — and by extension, funeral costs — often aren’t as well-planned because it’s simply not as pleasant to think about. Planning for a funeral means acknowledging your own mortality, and for many, it’s just easier to avoid the topic altogether.

The truth is that dying costs money — and in many cases, a considerable amount of it. Planning for the end of your life may feel uncomfortable, but having a financial plan in place can help make things easier for both you and your family to help them cover funeral expenses. So how much does a funeral cost?

What Is the Median Cost of a Funeral?

The median cost of a funeral in 2023 including casket and burial was $8,300, according to the National Funeral Directors Association (NFDA). For funerals with cremation, the median cost was $6,280.

Of course, the overall cost of a funeral can vary widely, depending on where you live and the type of service you want. Options include a formal funeral service, a more informal viewing or a service that adheres to your religious traditions and beliefs. Another factor is whether you opt for a burial or cremation.

The casket that can often make up a large portion of an individual’s funeral costs — a typical burial casket costs around $2,500, but some can cost as much as $10,000. Be aware of this fact when shopping for a casket: while more-expensive models may initially do a better job of preserving the body, “sealed” or “protected” caskets won’t prevent inevitable natural processes from happening any better than cheaper models.

You can save a decent amount of money by eschewing the embalming process if you decide to go with a direct burial or cremation, meaning there is no viewing or visitation. The median cost of embalming a body in 2023 was $845, according to the NFDA.

While all of these costs may seem high, it’s worth noting that they haven’t kept pace with inflation — the overall rate of inflation from 2021 to 2023 was around 13%, while the median cost of a funeral with casket and burial has increased by 5.8% over the past 2 years.

Median Funeral Cost by State

Just like the cost of living, the cost of a funeral varies depending on where you live. Below is a table that defines how much funerals cost in different states in 2023.

Funeral Cost Breakdown

The following chart offers a breakdown of average funeral costs in 2023. Note that some of the prices listed in the table below will only be relevant if you choose a burial or cremation. Keep in mind, too, that many of these items are not needed if the funeral doesn’t include a viewing – this is especially true for cremation.

5 Ways To Prepare For Funeral Costs

It’s never easy to think about your own death and how your loved ones will go on. But one of the best ways to help your family is to provide an end-of-life plan, including funeral costs. Here are some ways to do that:

Leave Specific Instructions In A Will

Getting your estate planning in order, such as leaving any wishes in a will, will help your loved ones understand what it is you want done with your assets and funeral arrangements. Information you’d typically include would be details on any financial accounts, whether you wish to be cremated or buried, and who you want to have your physical possessions.

Open A Traditional Savings Account

Some recommend opening a savings account that is specifically designated for use on funeral expenses. That way, your loved ones don’t have to worry about whether they can afford the costs.

Take Out A Life Insurance Policy

Having a life insurance policy can help you provide financially for your loved ones after you’re gone. Part of the death benefit your beneficiary will receive can go toward funeral costs (and anything else that you believe will be of benefit to them). Other funds from this policy can help your loved ones pay off your debts, if applicable.

Establish A Payable-On-Death (POD) Account

When you create a payable-on-death (POD) account, it helps ensure your account goes to a specific beneficiary when you pass away. Relatedly, the same goes for any other brokerage or investment accounts. These funds can then be used to help pay for your funeral and other costs.

As long as the person named on your POD account has your death certificate and other proof such as their ID, the funds should be immediately released for their use.

Take Out Final Expense Insurance

Final expense insurance is a type of permanent life insurance specifically geared toward funeral expenses. You typically don’t need to go through a medical exam to be approved for a policy, and you can name a beneficiary who can use the money to pay for funeral expenses.

But beyond covering funeral costs, these policies often extend to other related expenses such as memorial services and burial plots. They can even be used to cover outstanding debts.

How To Save Money While Planning A Funeral

As you’ve seen, the costs associated with funerals can add up. Thankfully, there are some ways you can save some money on the funeral process.

Consider The Cost Of Cremation Vs. Burial

One certain way to lower your funeral costs is to pursue cremation rather than burial. For starters, cremation eliminates the need for

purchasing a burial plot, which can be a significant cost. The cost of land for a burial plot can vary widely, but it can be especially expensive in densely populated areas.

Cremation services typically involve fewer components compared to traditional burial services, so there is no need for embalming, elaborate caskets or other expenses associated with a traditional funeral.

Opt Out Of Embalming

If you forgo a viewing, embalming becomes unnecessary, which eliminates the costs of the procedure. The costs for embalming typically come from expensive chemicals used in the embalming process, and funeral homes typically charge for embalming as a separate service.

A related benefit: Without the need for embalming, the funeral planning process becomes simpler and more straightforward. Families can focus on alternative memorialization options, reducing their overall financial burden.

Provide Your Own Urn Or Casket

Choosing your own urn or casket, rather than purchasing one directly from the funeral home, can result in notable savings. Funeral homes typically offer a selection of urns and caskets, but they often mark up the prices. By providing your own, individuals can find a wider range of choices at more competitive prices.

Hold the Funeral At A Private Venue

Choosing a venue outside of a funeral home for the memorial service, such as a church or a private residence, can offer significant cost savings. Funeral homes often charge fees for the use of their facilities, and those can be high.

By opting for an alternative location, families can incur lower expenses. Moreover, hosting a funeral service at a different venue can provide a more intimate and personalized atmosphere for family and friends, and it allows for unique touches that might not be possible within the confines of a funeral home.

Do Your Research And Remember The ‘Funeral Rule’

By comparing prices from different funeral homes, you can find prices that are in line with your financial situation. Realizing that people who are pricing a funeral — or grieving a loss — might not be the most efficient at evaluating prices, the Federal Trade Commission created the “Funeral Rule.” This rule has several different mandates, but the primary point is this: it requires businesses “to give consumers accurate, itemized price information and various other disclosures about funeral goods and services.”

This transparency empowers families to make informed decisions and choose services and products that align with their budget without feeling pressured. The rule essentially allows consumers to collect estimates from multiple funeral homes and identify cost disparities determine the best option for them.

The Bottom Line: Funeral Costs Are A Part Of Life

Planning for the end of your life may not be the cheeriest of topics, but it is a vital part of ensuring you and your loved one’s financial security.

It’s a good idea to start doing your own research, such as comparing prices from a few funeral homes, getting your estate planning in order and starting to save up for your final expenses. To help you manage your finances, including how to save or set aside money for funeral costs, consider downloading the Rocket Money℠ app so you can better manage your finances.