Economic Costs of Gun Violence

Gun violence is a public health epidemic. 

Every year, gun violence kills over 40,000 people and wounds over 75,000 others in the United States. Gun violence costs the United States $557 billion annually – equivalent to 2.6% of the country’s Gross Domestic Product. That’s more than twice what the Department of Education spent to educate US youth in FY 2022 ($235.74 billion). Every year, gun violence costs taxpayers $12.62 billion – or $273,904 per firearm death and $25,150 per nonfatal firearm injury.

Weaker Gun Laws, Greater Economic Costs

States with the weakest gun laws bear the majority of the economic toll of gun violence. Southern states experience the largest proportion (41.4%) of firearm-related hospital costs, while this region only accounts for 37.6% of the nation’s population. Meanwhile, the Northeast – a region with states with strong gun laws – has the lowest proportion (16.6%) of healthcare costs.

Southern states have a firearm death rate 2.3 times higher than Northeastern states. Each year, 3,801 people in the Northeast are killed by gun violence, which costs taxpayers $1.04 billion. Meanwhile, 19,186 people in the South are killed by gun violence each year, costing taxpayers $5.26 billion annually.

Residents living in states with stronger gun laws, like California or New Jersey, face less of an economic burden than those living in states with weak gun laws, like Wyoming or Arkansas. The per capita cost of gun violence placed on taxpayers in Mississippi is over 6 times greater than the cost taxpayers in Massachusetts face. Common-sense gun laws save lives and taxpayer dollars.

The Lifelong Cost of Firearm Injuries

While the media often discusses the tragic loss of life, little attention is given to victims of gun violence who survive their firearm injuries. Each year over 75,000 people in the United States survive their gunshot wounds but face life-changing and long-lasting injuries and trauma that come with steep economic costs for their communities at large. Each year, $2.8 billion goes towards immediate and long-term medical care, mental health care, and ambulance and patient transport costs.

A 2022 study found that patients with firearm injuries saw a 402% increase in medical spending per month. Studies estimating first-year admittance costs have concluded that 16% of firearm injury patients initially admitted to the hospital were readmitted at least once, which cost them between $8,000 and $11,000 per patient. Additionally, patients with firearm injuries experienced a 40% increase in pain diagnoses, a 51% increase in psychiatric disorders like depression and post-traumatic stress disorder, and an 85% increase in substance use disorders.

Employer Costs of Gun Violence

As the rate of gun violence increases, a greater economic burden is placed on employers. From health insurance costs to sick leave to productivity and workforce losses, U.S. companies are negatively impacted by the growing epidemic of gun violence.

Between 2007 and 2020, the number of employees or dependents of companies that offer employer-sponsored health insurance who have been shot has increased by over 400%. It is estimated that each employee who suffers a firearm injury is associated with a $30,000 increase in direct medical spending for the employer in the first year alone.