42 views 2 mins 0 comments

New Jersey is 13th-most expensive state to raise a child. Just how much does it cost?

In World
June 09, 2024

We all know kids are expensive. But just how expensive?

The annual cost to raise a child in New Jersey is $26,870, according to a new SmartAsset study. That includes $13,674 for childcare, $4,054 in additional housing and $2,068 for food. The total cost also includes medical care, transportation and other necessities.

SmartAsset, a financial service, compiled costs assuming two working parents and one child for its study of the cost of raising children across the United States. It used the MIT Living Wage Calculator data to compare the costs of a household with two working adults and one child with a childless household with two working adults.

The company found the median cost was $22,850, but some states cost twice as much as others.

🏖️ Looking for family fun this summer at the Shore? Here are some ideas

The most expensive state was Massachusetts, with an annual cost of $35,841, while the least expensive was Mississippi, whose annual cost was $16,151.

New Jersey came in as the 13th-most expensive in America.

Top 10 Most Expensive States to Raise a Child

  1. Massachusetts: $35,841

  2. Hawaii: $35,049

  3. Connecticut: $32,803

  4. Colorado: $30,425

  5. New York: $30,247

  6. California: $29,468

  7. New Hampshire: $27,849

  8. Washington: $27,806

  9. Rhode Island: $27,630

  10. Minnesota: $27,406

This article originally appeared on Asbury Park Press: Cost to raise a child in New Jersey calculated in SmartAsset study

EMEA Tribune is not involved in this news article, it is taken from our partners and or from the News Agencies. Copyright and Credit go to the News Agencies, email news@emeatribune.com Follow our WhatsApp verified Channel210520-twitter-verified-cs-70cdee.jpg (1500×750)

Support Independent Journalism with a donation (Paypal, BTC, USDT, ETH)
whatsapp channel
Avatar
/ Published posts: 31070

The latest news from the News Agencies