Connections between dog ownership and socioeconomic position (SEP) are not well understood. This study examined associations between family and neighborhood levels of SEP and dog ownership, dog acquisition factors (purchase price and breed characteristics), and the purposes of owning a dog based on data from a survey carried out in Denmark in 2021. Participants (aged 18–89 years) were recruited using probability sampling (n = 2,112). Stepwise multivariable logistic or multinomial logistic regressions were conducted to identify significant associations with SEP. Approximately 20% of families in Denmark have a dog. Dog ownership was not found to be linked with income, education, or occupation when life course and lifestyle factors were taken into account. Neighborhood SEP was associated with dog ownership, but the association was not ordered. Payment of a high price for the dog was more prevalent both in high-SEP neighborhoods and in high-income families. Dog owners with low income and limited involvement in the labor market were more likely to have mixed-breed dogs. Those with a higher income and the self-employed were more likely to have a pedigree dog. Acquiring a dog to get physical exercise was more common among dog owners living in high-SEP neighborhoods. Owners with higher levels of education were more likely to have a dog because they liked the company of animals, and those with lower levels tended to keep a dog for instrumental reasons and for social support. The reason for keeping a dog for social support was mainly observed among those with lower levels of education who were also frequently (often/sometimes) involuntarily alone. As in many other areas of consumption, the results demonstrate that acquisition of, and reasons for keeping, a dog are linked to socioeconomic status. They also suggest that dogs play different roles in emotional and mental health at different educational levels.