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The going rate Meaning in English

expression

ˈðə/, /ðə/, /ði/ /ˈɡoʊɪn/, /ˈɡoʊɪŋ/ /ˈɹeɪt
thuh GOH-in rayt
ðə, ði/ /ɡˈəʊɪŋ/ /ɹˈeɪt
thuh GOH-ing rayt

Definition

The price or fee that is commonly charged for something at the present time.

Usage & Nuances

Commonly used in business, services, and informal deals. Usually refers to money, but can also apply to wages, rents, and fees. Neutral, suitable for both spoken and written English. Often appears with 'that's the going rate' to indicate a standard price.

Example Sentences

The going rate for a babysitter here is $15 per hour.

basic

Is that the going rate for rent in this city?

basic

We can't pay more than the going rate.

basic

That's just the going rate these days—everyone pays it.

natural

If you want top talent, you have to offer at least the going rate.

natural

They charged me way above the going rate for that repair.

natural