How Much Will the 2024 Mustang Cost?

How Much Will the 2024 Mustang Cost?

Last Updated September 15, 2022 | Nate Moonis

The all-new S650 Mustang is set to arrive in the summer of 2023, but pricing was not announced at Ford's reveal event. Based on past and existing Mustang MSRPs, conservative estimates put the cost of a base model S650 Mustang at around $30,000.

As a reference, the MSRP of the 2015 V6 Fastback was $23,800. The current MSRP for the 2022 EcoBoost Fastback is $27,470. It's safe to say that the S650 Mustang will be north of that price tag, but we'll have to wait to see by how much.

Mustang Base Trim MSRP 2015-2024

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Estimates for the performance series Mustang Black Horse are closer to $60,000. That's pretty much in line with prices for Ford's more recent performance Mustangs like the 2020 Shelby GT350 and 2022 Mach 1. See how these price estimates compare to other Mustang prices throughout the years.

How Affordable Are New Mustangs?

One way to think about the affordability of a car is to compare its price to the median family income. Here's a look at how much the most affordable Mustang models cost the average American family at the launch of each generation.

New Mustang MSRPs Vs Median Family Income
Mustang Base MSRP Median Family Income Percentage of Income
1964.5 Mustang Hardtop $2,427 $6,600 36%
1974 Mustang II Hardtop Coupe $3,363 $11,100 30%
1979 Fox Body Sedan $4,494 $16,530 27%
1994 Mustang Coupe $13,355 $33,178 40%
2005 Mustang Coupe Deluxe $19,215 $46,242 42%
2015 Mustang V6 Fastback $23,800 $56,516 42%
2024 Mustang EcoBoost $30,000 (EST.) $70,784 (for 2021) 42%

The price of the Mustang has been steadily increasing over time and will continue to do so in 2023. However, even if median family incomes don't rise beyond 2021 numbers (the most recent data available), a $30K S650 model would still cost around 42% of an average household's yearly income. That puts it on par with most of the Mustang's past generations, particularly from the Fox Body and up.

Comparing new Mustang MSRP at the time of launch with median household incomes in America

While you can debate whether any vehicle should cost close to half of a family's yearly earnings, the new S650 does seem to offer a lot for the price. Be sure to stay tuned for more updates on the new Mustang's price as we get closer to the launch date in the summer of 2023!

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About the Author

Nate is a passionate writer and turbo four-cylinder fanatic. He uses his love for performance vehicles and automotive history to create content for experts and beginners alike. Read full bio →

Sources: Income in 1964 of Families and Persons in the United States, U.S. Census Bureau | Household Money Income in 1974 and Selected Social and Economic Characteristics of Households, U.S. Census Bureau | Money Income of Households in the United States: 1979, U.S. Census Bureau | Money Income in the United States: 1995, U.S. Census Bureau | Median Household Income: 2005, U.S. Census Bureau | Income and Poverty in the United States: 2015, U.S. Census Bureau | Income, Poverty and Health Insurance Coverage in the United States: 2021, U.S. Census Bureau

This article was researched, written, edited, and reviewed following the steps outlined in our editorial process. Learn more about CJ's editorial standards and guidelines.

How Much Will the 2024 Mustang Cost?

Learn all we know about the 2024 S650 Mustang price after the reveal in Detroit on 9/14/2022. See how the price of the new Mustang compares to previous Mustangs.