Is it Cheaper to make or buy Sweetened Condensed Milk?
Lots of dessert recipes call for a can of sweetened condensed milk and it truly adds a caramelly rich flavor. Around Thanksgiving, you can sometimes find great deals on baking essentials, but the rest of the year you will pay full price.
This made me research if I could make my own sweetened condensed milk to save some money. I was truly surprised at how easy it is to make and how cheap it is! Let’s look at the cost breakdowns of homemade versus canned sweetened condensed milk.
How much does it cost to make sweetened condensed milk?
Making your own sweetened condensed milk is actually very easy but it does take about an hour to make on the stove. We are using a basic recipe from Gluten Free on a Shoestring. Click here for full recipe and dairy free alternatives.
| Homemade Sweetened Condensed Milk Ingredients | Cost |
| 3 cups whole milk | $0.73 |
| 1 cup sugar | $0.30 |
| 1/8 tsp kosher salt | $0.01 |
| Total Cost of Homemade Sweetened Condensed Milk: (Makes 1 to 1.5 cups) | $1.04 |
The total cost to make sweetened condensed milk at home is about $1.04. Depending on how long you cook the mixture you may end up with 1 cup to 1.5 cups.
If you bake a lot, it is very easy to make a large batch of sweetened condensed milk and then store it in the fridge for 2-4 weeks.
If you only bake occasionally, then making a small batch when you need it is probably the easiest way.
Pro Tip: Leftover sweetened condensed milk can be used to make tasty coffee drinks at home, homemade ice cream, or you can freeze it to use later!
How much does a can of sweetened condensed milk cost?
Now let’s head out and see how much it costs to buy sweetened condensed milk at the grocery store.
| Sweetened Condensed Milk | Store | Price |
| Borden 14oz can | Market Basket | $3.09 |
| Baker’s Corner 14oz can | Aldi | $2.09 |
| Hannaford 14oz can | Hannaford | $2.59 |
| Nestle 14oz can | Target | $2.99 |
| Signature Select 14oz can | Shaws | $2.89 |
| Price Rite 14oz can | Price Rite | $1.64 |
| Average Cost of a 14oz can of Sweetened Condensed Milk: | $2.54 |
The average cost of store bough sweetened condensed milk is about $2.54 per can. During the holidays, this baking staple may go on sale, but for the rest of the year it mostly at a regular price.
We know that making it yourself only cost $1.04, so the closest option came from the store brand of sweetened condensed milk at Price Rite.
Is making your own sweetened condensed milk worth it?
It is very clear that making your own sweetened condensed milk is definitely a cost saver. The savings was over 50% versus buying it at the store.
Since making sweetened condensed milk is fairly simple and just requires heating the ingredients in a pan on the stove. It is totally worth making it yourself.
The only time I would purchase sweetened condense milk at the store is if it is on super sale around the holidays. Depending on how often you bake throughout the year, this may be a great time to stock up on a few cans in your pantry.
My rule of thumb is that it is a great deal if I can find a can of sweetened condensed milk for less than $1.00 (preferably even less). If it is more expensive than that, I will go ahead and make it myself!
For more cost breakdowns of making it yourself versus buying it, check out “Is it Cheaper to make or buy a Graham Cracker Crust?” and “Is it cheaper to make your own Whipped Cream?“
