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Quick, how much does a pickup truck cost? If you said $30k, you’re a bit behind the times. But for good reason. Multiple automakers clung to the $30k MSRP for years. But after the 2022 supply chain shortages, every half-ton’s MSRP is rocketing toward the $40k mark. What we are truly seeing is a new definition of what an “entry-level” truck includes. The F-150 is no exception; for 2024 “America’s Favorite Truck” will be much more expensive, but have a powerful base engine and a ton more standard features.

How much does a 2024 Ford F-150 cost?

After a big mid-generation refresh, Ford announced the 2024 F-150 XL’s price starting at $38,565 (according to Car and Driver). Remember, that’s before the truck’s $1,995 destination charge and any dealer fees.

The bumper winch of a 2024 Ford F-150 Tremor.
2024 Ford F-150 Tremor | Henry Cesari via MotorBiscuit

Ford may offer regional discounts on the F-150, so check for yourself. With my zip code set to Detroit, I see the 2024 Ford F-150 XL advertised at $36,570 (in October 2023).

These prices may come as a shock to longtime Ford fans. In 2022, Ford still advertised an F-150 MSRP under $30k. In fact, it has been clinging to that price point for a long time. Climbing $8,500 in just two years is a lot. But the truth is that the F-150 you get for that price has changed as well.

What is the 2024 Ford F-150 XL?

The XL trim has long been the entry-level of the Ford F-150. For years, it was a seriously stripped-down work truck. But for 2024, it will offer more capability than ever before. And it will cost quite a bit more.

An entry-level Ford F-150 XLT with standard EcoBoost engine towing a large RV trailer.
2024 Ford F-150 XLT | Ford

In 2022, the Ford F-150 still had manual door locks and crank-up windows. Forget about carpets! It did have a modern powertrain, complete with Ford’s new 10-speed automatic transmission. But its 290 horsepower/265 lb-ft naturally aspirated V6 gave it a towing capacity closer to a midsize truck.

Fast-forward to 2024, and the Ford F-150 XL is a much more modern vehicle. It has power locks and even power windows. Perhaps most importantly, Ford got rid of the old V6 and made the new base engine the 2.7-liter Ecoboost V6. The result is 325 horsepower and 400 lb-ft of torque.

Ford has long offered this Ecoboost as an option on the F-150 XL. And the latest price hike is actually in line with the old surcharge to get the more powerful engine.

What is the cheapest half-ton 2024 pickup truck?

At $36,800, the Chevrolet Silverado 1500 may be the cheapest full-size pickup truck of 2024. Car and Driver reports the F-150 XL will be starting above $38k, while Ford is advertising $36,570 in some places. The options from Chevy and Ford will certainly be neck-and-neck.

See how all the 2024 half-ton pickup truck prices stack up in the table below:

ConfigurationManufacturer’s Advertised MSRP
2024 Chevrolet Silverado 1500 WTRegular cab (2-door)$36,800
2024 GMC Sierra 1500 ProRegular cab (2-door)$37,700
2024 Ford F-150 XLRegular Cab (2-door)$38,565
2024 Ram 1500 TradesmanQuad cab (small 4-door)$38,750
2024 Toyota Tundra SRDouble cab (small 4-door)$39,965
2024 Nissan Titan SKing Cab (rear suicide doors)$45,770
New Pickup Truck Price Chart

Next, find out the cheapest pickup truck with top reliability scores, or see the refreshed 2024 Ford F-150 for yourself in the video below: