Little Caesars has been named the most affordable restaurant in America

Little Caesars, known for its affordable $5 pizza pies, remains the top low-cost pizza chain according to a new survey.

As dining costs rise, fast-food chains are trying to win back customers with value deals. McDonald's is reintroducing its $5 value meal, and Jack in the Box is offering a "Munchies under $4" deal.

However, Little Caesars is still perceived as the ultimate low-cost leader, according to a report by Datassential, a food and beverage market research firm. The report ranked the top 500 restaurant chains in the U.S. based on affordability as rated by consumers.

Little Caesars topped the list, with 72% of diners rating it above average for affordability. It was followed by Freshii (65%), Papa Murphy's (64%), Cici's Pizza (62%), and Pollo Tropical (59%). Little Caesars also ranked as the low-cost favorite in Datassential's 2023 survey.

"Little Caesars has historically leaned on low prices and affordability as a core brand strategy and traffic driver," said Huy Do, a research and insights manager at Datassential.

While Little Caesars' prices vary by location, the chain, founded in 1959, aims to offer the lowest prices for traditional pizzas in each market. In New York City, for example, a full-size pizza with two toppings is currently priced at $7.99, lower than the city's $1-a-slice pizza parlors, which now charge $1.50 per slice or $12 for a pie.

With approximately 4,200 locations across the U.S. and operations in over 28 countries, Little Caesars generates $4 billion in annual sales, ranking it among the largest pizza chains, behind only Domino's Pizza and Pizza Hut.

Despite some critics who argue that Little Caesars' low prices mean lower quality, many customers appreciate the value.

"Little Caesars pizzas are my comfort food," said one commenter on Quora. Others see it as a budget-friendly option in a world where fast-food meals can cost over $10.

"Cheapest dinner around that can feed everybody easily," said another Quora commenter.