It Costs At Least $30,000 A Year To Raise A Child In These US States

 Families in some states will spend twice as much on living costs compared to others.

In America, two working adults raising a child will spend a median of $22,850 on childcare, food, housing and more each year — but that figure varies widely from state to state, with parents in some parts of the country facing costs almost twice as high as other areas.

To find out where it's most and least expensive to raise a child, the team at SmartAsset compared the average living costs of a dual-income household with one child in each of the US states. The data is accurate as of February 2024.

The priciest place for two working adults to raise a child is Massachusetts, where annual expenses stand at almost $36,000. Childcare is more expensive in this state than any other, accounting for more than half of a family's average yearly costs ($21,503).

Annual living costs for working couples with one child also exceed $30,000 in four other states: Hawaii ($35,049), Connecticut ($32,803), Colorado ($30,425), and New York ($30,247).

Mississippi is the most affordable state to raise a child in, with average annual expenses of just $16,151. In fact, the cost of raising a child to the age of 18 is a whopping $439,000 cheaper in Mississippi than in the priciest state, Massachusetts.

Via SmartAsset.

Post a Comment

Previous Post Next Post