How Much Are Drill Bits?

By Woodworking Street •  Updated: 12/26/22 •  9 min read

If you’ve never done much woodworking before, it can be tricky to know how much to invest in some tools—and drill bits are no exception. But don’t worry—we’ve got you covered!

In this post, we’ll be talking about how much drill bits cost and what factors influence their price. We’ll also talk about some of the best places to buy them online and offline so you can make sure you’re getting the best deal.

So, how much are drill bits?

The cost of drill bits can vary from $1 to $50 or more. A drill bit’s price can vary widely based on its size, length, material, and whether it’s a specialty bit. DIYers don’t need to purchase all varieties of drill bits in order to work on most routine tasks.

The good news is that DIYers can get started with only a few tools, including one of the most important: a drill. And if you’re just getting started with your first project, you might not know what kinds of bits are available or how much they cost.

Let’s explore this subject in more detail:

Table of Contents

Many factors affect the price of drill bits

A drill bit is a cutting tool that is used to make holes in wood, metal, glass, plastic, and other materials.

The shank is the part of a drill bit that fits into your power tool, and it holds the fluted section in place so it can do its job. This fluted part helps remove material as the bit rotates.

This table shows the approximate cost of several types of drill bits:

TypeApprox. costDescription
Twist$1.10Coated with Titanium nitride. Good for wood, metal, and plastic
Carbide tipped$2.75Good for glass, ceramics, and tile
Spade bit$3.64For wood and metal
Twist$4.50Cobalt alloy steel. Good for tough metals
Spade bit$5.99For wood and metal
Forstner bit$15.95Good for woodworking and cabinetry
Diamond holesaw$20.45Good for porcelain, limestone, granite, slate, and marble
Garden Auger$20.95For drilling holes in soil. Can use when planting
Forstner bit$23.48Good for woodworking and cabinetry
Ice Auger$142.00Makes hole for ice fishing

As can be seen, the cost varies greatly. Why is this so?

There are many factors that affect how much drill bits cost, such as size, length, the composition of bit, and type of bit:

Note: This post may contain affiliate links. If you purchase a product through an affiliate link, I’ll earn a commission, at no cost to you. To find out more, see my full disclosure.

Size

When it comes to drill bits, size matters.

We’re not just talking about the length of your drill bit—the length of a drill bit is important, but we’re referring to the actual radius of the bit when we talk about size. A larger radius means more material will be used to create your bit, which is more expensive for manufacturers to produce because they have to use more metal than they would with a smaller radius. As a result, bits of a greater size will cost more. Here is an example on Amazon of a drill bit with a very large radius.

Length

Drill bits vary greatly in length. They can go from a few inches in length to over 16 inches or even more! As you might imagine, the longer the drill bit, the more material it takes to make and therefore it is more expensive for manufacturers to produce. As a result, longer bits cost more.

When you drill a hole with a bit that’s very long, it can be hard to control the drill because you’re operating it from too far away.

But why would you want this? One reason would be that you need to drill into something a distance away from the operator (such as a stud). Here is an example of a long drill bit on Amazon.

Some of the longest bits are used by mud mixer drills. These are very powerful drills that are used to mix drywall joint compound or concrete. The bits are long so that the operator can stand while mixing the compound in a bucket on the floor. I wrote another article about mud mixer drills.

Composition of the bit

Drill bits differ in size, but all are designed to bore holes.

The composition of the drill bit is important because it affects how well the bit does its job and how long it lasts. Different materials can also affect your project’s outcome.

Here are some common materials used to make drill bits:

High-speed steel – This steel is specially treated to increase its strength and make it well-suited for use in cutting tools. It is used to drill many materials, including wood and metal. Some bits are made with alloys containing Cobalt. This increases the strength and durability of the bit.

Titanium Coating – These bits are made by coating the drill bit with a thin layer of Titanium nitride. This makes a smoother, faster cut and increases the life of the bit.

Diamond Coating – Bits with diamond coatings are often used to drill holes in very hard materials like stone, concrete, tile, and porcelain.

Type of Bit

Drill bits are one of the most important tools in your toolbox. They can also be an expense, when you consider how much you’ll need them and how often they wear out. Here are some common drill bit types:

Twist bit – These are the most common type of drill bit and can be used on wood, metal, plastic, and other materials. They come in a variety of sizes, and can be used with a corded or cordless drill. This type of bit often comes in sets and is not very expensive.

Spade bit – Spade bits are similar to twist bits but have more of a cutting surface on their tips—they look like spades! They’re used for boring large holes through wood, and they leave behind rough surfaces that can be sanded or planed smooth. These bits are also not that expensive.

Forstner bit – Forstner bits, which are specially made for creating flat-bottomed holes, cost more than other types of drill bits. Here is a Forstner bit on Amazon.

Red drill driver and bits - How Much Are Drill Bits
Many factors affect the price of drill bits

Do you save money by purchasing a set?

This is a good question. It can make sense to save money by only buying the drill bits you need at the time and not extra ones that will sit in your toolbox!

However, at some point in the future, you’ll need to use a size that you don’t have. It may be wise to purchase an entire set now if you can afford it.

It might be less expensive to buy bits individually as you need them, but it would also be extremely inconvenient.

Collection of drill bits
Do you save money by purchasing a set?

Which sets are good to get?

Drill bits are pretty much the same across the board—they’re just pointed metal shafts with sharp tips. They come in various sizes and materials, but they all do pretty much the same thing: bore holes in wood and other materials.

But when it comes down to it, there’s more than one type of drill bit out there, and each has its own unique set of uses. So what kind of drill bits should you get for your DIY project? It depends on what you plan on doing!

General purpose

If you’re interested in general-purpose work, it might be best to invest in a twist drill set. These sets come with different sizes and types of bits, so they’ll be useful for most projects. A standard twist drill bit has a spiral flute that helps remove debris as you drill holes into wood or metal. Here is a set of twist drill bits on Amazon.

Tough metals

If you regularly need to drill holes in metal that is difficult to work with, consider buying a set of Cobalt Steel Alloy bits. Here is a set of them on Amazon.

Large rough holes

If you need to drill large, rough holes in wood—for instance, through wall studs for electrical wires—you may want to get a set of spade bits. These are designed for drilling larger holes, and they’re great for any kind of hole that needs to be made quickly. However, the hole can be very rough, so if you’re looking for accuracy in your drilling, these aren’t the best choice. See a set of spade bits on Amazon.

Woodworking and cabinetry

Do you do fine cabinetry work with wood? Do you need to drill precise holes with clean edges? If so, Forstner bits might be the best ones for you.

Forstner bits are perfect for drilling holes in wood for many reasons. First, they cut precise holes with a flat bottom and have minimal splintering. See a set of Forstner bits on Amazon.

Drill bits image
Which sets are good to get?

Where to buy drill bits

You’ve started a new project, and you discover that you need drill bits. Where are you going to get them? You have two options: offline or online.

Offline

You could start at your local hardware store. They have just about everything you need. Other offline sources are:

Online

You can also obtain drill bits online.

For many, this is a very convenient way of shopping. You don’t need to travel to the store. You can shop from the comfort of your home and have the item delivered right to your doorstep. Some online sources include:

Amazon

Dewalt tools

Bosch tools

Drill with plans image
Where to buy drill bits

#1. What is the difference between drill bits for wood and drill bits for metal?

All drill bits are used to drill holes. However, there are some differences in the materials used to make them.

Bits for wood are made out of materials that are less durable than are used in bits for tough metal. A durable material for drill bits and other tools is Cobalt Steel Alloy.

#2. What is the best drill bit?

The answer is: This really depends. It depends on what you’re doing, and what kind of drill bit will be best for the job.

What is best for one person will not necessarily be good for another. However, almost anyone can use general-purpose bits. They come in different sizes, so you can choose the one that’s right for your project’s size requirements.

Cordless drill driver image
A cordless drill driver

Final words …

So there you have it: drill bits are pretty affordable and you can always find a good deal on them. Just make sure that you do your research and buy quality products from trusted brands.

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Woodworking Street

I've had an interest in woodworking and building things since I was a child. With a good plan, the right tools, and a bit of know-how it's possible to build anything. That's what this website is all about. The internet can be an intimidating place for someone new to woodworking. My goal is to provide you with great resources and information to help you get started.

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