The Hands-Down Most Affordable Steakhouse Chain For Ribeye In 2026

Times are tough for steak lovers, as beef prices are at an all-time high. Between April 2020 and April 2026, the cost of beef rose by 65%. Americans are still eating more beef than ever, but the economic crunch means they're looking for better value. Fast-casual steakhouses offer readily available options without traditional steakhouse prices, which is why 90% of the steaks ordered in American restaurants are served in fast-casual steakhouse chains. 

Ribeye is the most popular cut despite being one of the priciest cuts of beef, as fans appreciate ribeye's tender texture and rich flavor. So, where can you get the cheapest ribeye if you don't want to compromise on quality?  

Among America's top steakhouse chains, Texas Roadhouse offers the cheapest ribeye. The chain (which is also the country's most popular fast-casual option across the board) sells a boneless, 12-ounce ribeye for just $24.99. Customers can also buy a 20-ounce bone-in ribeye for $30.99, and both options come with a choice of two sides. Texas Roadhouse's main competitors charge a few dollars more, though prices vary from location to location. My local LongHorn Steakhouse sells a 12-ounce ribeye for $28.29 and Outback Steakhouse charges $36.49 for its 20-ounce bone-in ribeye.  

Here's the rub: Texas Roadhouse's prices won't stay the same forever. The restaurant has already raised prices by 3.1% in the first quarter of 2026, plans to bump prices up by an additional 0.5% in the second and third quarter, and aims to raise prices another 1.9% again in the fourth quarter. In total, that's a roughly 6.1% increase year over year.

The chain was initially wary of price hikes, but found that customers kept coming in droves even after an experimental 1.7% increase in 2025. Plus, prices are still lower than competing menus. "I believe that we are a little lower than most of our steak competition from that standpoint," the chain's CEO, Jerry Morgan, said in a recent earnings call (via TheStreet).

There are a few things you should know if you're thinking of trying Texas Roadhouse for the first time. The chain is known for its dancing servers, boisterous ambiance, and creative margaritas. It's not a traditional, high-end steakhouse experience, but it is fun — and (relatively) inexpensive. 

If fast casual steak options are still out of your budget, you can always try making a steak dinner for yourself. A regular, bone-in ribeye steak averages $11.34 for one pound (16 ounces) as of May 2026. Ounce-for-ounce, that's half the price of a Texas Roadhouse ribeye. Plus, ribeye is hard to mess up, which is why it's the best steak cut for beginners.