Raising Children A Costly Endeavor
May 22, 2023 1:59PM PDT
100 dollar bills growing in the grass.
Photo from Alpha Media Portland OR
What’s it cost to raise a child these days?
The personal finance website SmartAsset used data from MIT’s Living Wage Calculator to find that in the U.S., it costs close to 21-thousand dollars per year to raise a child.
California’s Bay Area is the most expensive region to raise kids. Add another 43% to the 21-thousand dollars, for a total of 30-thousand dollars a year to raise a child in the San Francisco area.
Boston, Princeton New Jersey, Ann Arbor and Kalamazoo, Michigan were also around 30-thousand dollars a year.
100 dollar bills growing in the grass.
Photo from Alpha Media Portland OR
