According to the most recent annual report from the USDA, it now costs $234,900 to provide a child with 17 years of food, shelter, and other necessities. For 2011, that broke down to an annual cost for two-parent, middle-income families of $12,290 to $14,320 –depending on the child’s age.
The USDA has a “Cost of Raising a Child” calculator on their website, which shows that the category taking up the largest chunk out of parental pockets is housing. The second- largest expense category is childcare.
Those costs vary depending on region, with the Northeast as the priciest, the urban West coming in second, then followed by the urban Midwest, with the urban South and rural areas bringing up the rear as the least costly areas. But how do the price tags associated with child rearing break down state by state?
The following list of the costliest states is largely determined by childcare. The information comes from the 2012 report, “Parents and the High Cost of Child Care”, from Child Care Aware of America. The factors given in the ranking were the average annual cost of infant care, the state median income for both single parent families, and income for two-parent families. The ranking presented here was determined by the cost of infant care as a percentage of median income for a two-parent family.
By Colleen KanePosted 5 September 2012