Why This Once-Affordable Breakfast Chain Massively Spiked Its Prices

For many across the U.S., the International House of Pancakes — commonly known as IHOP — is the go-to spot for many classic breakfast favorites, including pancakes, waffles, and bottomless coffee at any time of day. Some diners on Reddit recall IHOP being relatively affordable, but many pancake devotees have been bothered by the serious price increase they've seen at the chain in recent years. A data study from Finance Buzz shows that IHOP menu item prices have increased by 82% between 2020 and 2025. Compared to Denny's, Cracker Barrel, and Waffle House (with increases below 40%), IHOP's price ramp-up outpaces similar restaurants by far. Some meals have more than doubled in price, so what gives?

Restaurant prices must often keep pace with (or in this case, exceed) the overall rate of inflation to profit, and IHOP has done exactly that. Many restaurants, including IHOP, faced financial drawbacks related to the COVID-19 pandemic, which is one of many possible reasons for the inflated menu prices. IHOP's menu is obviously egg-heavy, and the price of eggs reached an all-time high in February 2025, in part due to avian influenza affecting chicken flocks. The company that owns Applebee's and IHOP, Dine Brands, hasn't publicly shared any plans to bring prices back down, but there are a few ways to make the most of every dollar spent at the popular pancake spot.

If you still love hitting up IHOP but you aren't loving what it's doing to your wallet, you aren't alone. Thankfully, there are some ways that you can save some serious cash when visiting your favorite breakfast joint. One way to get started with savings is to join the IHOP rewards program. For every $5 you spend at IHOP, you'll get a PanCoin. As you collect PanCoins, you can redeem them for short stacks of pancakes, kids meals, and more.

If you're age 55 or older, you're eligible for IHOP's senior menu and senior discounts, where you can smaller portions for a lower price than standard menu items. Regardless of your age, you can enjoy a free full stack order of pancakes during your birthday month. Simply sign up for the IHOP rewards app, and you'll receive the credit in your rewards account at the start of your birthday month.

In September 2025, IHOP introduced its first everyday value menu, seemingly in response to ever-growing criticism about the chain's price hikes. The value menu offers a number of the restaurant's most popular foods — the ham and cheese omelet, a single slice of French toast or two pancakes with bacon or sausage and eggs, or the chain's house scramble, which consists of eggs, bacon, and cheese, served with a side of hash browns. To max out you savings at IHOP, you may be able to stack certain deals to keep your stomach and your wallet full.