To identify factors associated with water prices, 1960 data for 400 water utilities were collected on 12 measures of rates and rate structures as well as 28 independent factors or potential determinants. The variables were subjected to correlation, principal component, and regression analysis to ascertain the interrelationships among both price and independent variables and to determine the factors significantly linked with price variations across utilities. A regression model was constructed incorporating 8 independent factors theoretically associated with water prices. This analysis of water prices indicated the extent to which prices in the United States are related to utility costs and the degree to which prices are influenced by non-cost factors.