Is a toaster oven cheaper than a full oven?

For small dishes, yes — typically a third to a half the cost — because it heats far less empty space.

At the default usage on each page, electric oven costs about 2.4× as much to run as toaster oven — $80.33 against $32.80 a year.

Why toaster oven wins, and when it does not

• A toaster oven is capped near 1,800 W by its 120-volt circuit, against 2,000–5,000 W for a full range oven.
• The smaller cavity reaches temperature quickly, cutting the preheat that dominates short cooks.
• Above roughly a single tray of food the advantage disappears, since the small oven runs longer and may need two batches.

What the difference is worth where you live

The 2.4× above holds at any price: both a toaster oven and an electric oven scale with whatever you pay per kilowatt-hour. The money does not. Choosing toaster oven over electric oven saves about $47.53 a year at the U.S. average, and $137 a year in Hawaii at 52.72¢ — against $33.97 in Nevada, the cheapest jurisdiction in the country. Swapping electric oven for toaster oven is worth 4.0× as much in Hawaii as in Nevada, so what you pay per kilowatt-hour decides this more than the wattage on either label.

Both figures use each appliance’s typical wattage and default usage at the U.S. average of 18.34¢ per kilowatt-hour, and exclude fixed charges, taxes and time-of-use rates. Change the wattage, usage or state on either appliance’s own page to compare them on your terms, or read how to check a running-cost figure before trusting any of them.