Massachusetts the 10th Most Expensive State to Raise a Child

 by TWIW StaffSeptember 16, 2021

A new study highlights the growing economic challenges faced by parents in America, with the total annual cost for the necessities to raise a child increasing by over 25% across a five-year period.

The LendingTree study found that the average cost for raising a child in the United States rose between 2014 and 2019 from $16,040 to $20,152, a 25.6% increase.

“The average American’s financial margin for error is so tiny that even the smallest increases can cause headaches,” LendingTree chief credit analyst Matt Schulz says. “Factor in a nearly 26% growth in costs over just six years and that’s a difficult situation for many, many parents.”

The study compared costs for a two-earner household with a one girl younger than 5-years-old in its analysis. The selected girls to factor in the cost of clothing, which is typically higher for girls.

The costs considered were rent, food, infant day care, girls’ apparel, transportation, insurance premiums and state tax credits.

Massachusetts the 10th Most Expensive State to Raise a Child

The study looked at each state plus Washington DC and found Massachusetts as the 10 most expensive state to raise a child, with a total annual cost of $22,677.

Day care costs in Massachusetts are as expensive as any of the states in the top 10 most expensive states to have a child, but its insurance premiums are the lowest of the group.

Here is how states in and around New England ranked, along with total annual cost:

  • 4 - Connecticut: $24,111
  • 10 - Massachusetts: $22,677
  • 11 - Maine: $22,091
  • 14 - New York: $21,353
  • 15 - New Hampsire: $21,273
  • 17 - New Jersey: $20,785
  • 20 - Vermont: $$19,884
  • 26 - Rhode Island: $18,804
  • 28 - Pennsylvania: $18,577

While raising a child in Massachusetts is expensive, it ranks as one of the cheapest as a percentage of the average family income. The average family income in Massachusetts, according to the study, is $133,746. The average annual expenses for a preschool-aged child in the state is $22,677, or 17% of the average family income.

Only New Jersey at 15.4% and Georgia at 16.9% were require a smaller portion of the average family income for a preschool-aged child.

To see the full study results and its methodology, visit the LendingTree website.

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