June 13, 2024

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Raising a kid is the most expensive in these 15 US cities: report

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SAN FRANCISCO (NEXSTAR) – It’s no secret that raising a child can be expensive. From child care, housing, food, and other associated costs, the expenses can rise quickly. 

Depending on where you live, being a parent can be even more expensive.

Using data from MIT’s Living Wage Calculator, personal finance website SmartAsset found that nationally, raising a child costs roughly $20,800 annually. That cost includes child care (which, on average, will set you back more than $9,000), food and housing, healthcare, transportation, and other necessities. 

SmartAsset reviewed 381 U.S. metro areas to determine how much it could cost for a two-adult household to raise a child in 2023. 

Unsurprisingly, many of the most expensive cities were in California, specifically…

Addy Bink

2023-05-21 18:11:01

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