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Raising a child can come with a hefty price tag. In fact, the average cost of bringing up a child until the age of 18 reaches nearly $245,340—a figure that can vary depending on where you live due to differences in the cost of living. NerdWallet analyzed the costs for 288 major cities across the U.S.
Unsurprisingly, the priciest cities to raise a child are often the most expensive cities to live in overall. New York, Honolulu, and San Francisco top the list, while more affordable cities like Norman, Oklahoma; Harlingen, Texas; and Ashland, Ohio, come in at the bottom.
The figures themselves are quite fascinating. For instance, raising a child in New York costs almost twice the national average—reaching a staggering $540,514. Remember, these calculations reflect the total cost of raising a child up to the age of 18.
To calculate these costs, NerdWallet referenced the national average from the U.S. Department of Agriculture and adjusted the numbers for each city's cost of living, using data from the Council for Community and Economic Research. For a complete list of cities, visit their full post.
Image courtesy of Thomas Sauzedde.
