The smallest machines capable of digging just six feet deep can be purchased for $12,000 to $20,000. Backhoe loaders with a dig depth of 9 to 10 feet usually cost $25,000 to $35,000. Machines with a 14-foot dig depth - the industry standard - and horsepower between 70 and 90 cost anywhere from $50,000 to $90,000.

Renting a backhoe for do-it-yourself use typically costs $100-$200 for half-day or full day rental of a small or mini-backhoe; larger models typically rent for $200-$350 or more a day or $500-$1,500 or more for a week.

Backhoe loaders are very common and can be used for a wide variety of tasks: construction, small demolitions, light transportation of building materials, powering building equipment, digging holes/excavation, landscaping, breaking asphalt, and paving roads.