Ways to avoid getting ripped off on your internet bill
You should pay about $70 ( N42,000 ) per month for high-speed internet service. That’s roughly how much most people pay for internet plans. While prices for internet have been going up in the past year, $70 is still fair for a plan with fast speeds (100 Mbps or better) and a reliable connection.
In general, internet plans range in price from $20 ( N12,000 ) to well over $100 ( N60,000 ) a month. The price you pay depends on a range of factors, including your internet speed, the type of connection you have, and what’s available in your area.
Read on below for our rundown on how to make sure you’re getting the best price for internet. We also have some tools to help you shop around.
How much does internet cost per month?
The median price for internet access is about $75 ( N45,000 )per month. That’s according to a November 2022 analysis from Consumer Reports, which found that about half of US households pay between $60 ( N36,000 ) and $90 ( N54,000 ) per month for internet service.
For those prices, you can get a standard broadband internet plan, which the Federal Communications Commission defines as any internet service connection that gives you 25 Mbps download speeds and 3 Mbps upload speeds or faster. Your internet download speed may be slower than the max speed advertised on your plan, but you can still get solid and reliable service.
The type of internet connection you have is the most significant factor in how much you should be paying for your Wi-Fi plan. Internet type determines the kinds of download speeds you can get and has a big impact on the overall quality of your service.
What factors determine your internet’s price?
Here’s a quick rundown of factors that influence internet prices:
- Internet speed—Faster speeds usually cost more.
- Internet connection type—Reliable connection types like fiber and cable cost around the same (or even less) as slower connection types like DSL. But faster plans mean higher prices.
- Availability—Urban areas have more options for low-priced plans, while rural areas tend to have fewer options and higher prices.
- Installation, equipment, and extra fees—An internet plan often includes extra fees on top of the basic monthly fee.
- Price hikes—Some plans look cheap because they start with low introductory prices, but watch out for price hikes that kick in after a year of service.
- Data caps—Internet providers usually put a monthly cap on the amount of data you can use, with overage fees tacked onto your bill if you go over.
- Annual contracts—The best annual contract is no annual contract. Having no contract means you can cancel without paying early termination fees.
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