Considering that seven of the ten cities with the highest cost of living in the world are in the United States, it’s no surprise that the cost of raising a child in 2024 is as high as it has ever been!
In fact, according to this study, the average cost of raising a child in the United States is roughly $25,181 per year if you live in one of the U.S.’s large metro areas.
How much does it cost to raise a child in the Washington, DC area?
According to this study, Washington, D.C. ranked as the third most expensive metro area in the country to raise a child!
The study found that parents in the DMV area tend to spend the most in the nation on average for childcare ($24,886), while they are only surpassed by the Boston Area ($37,758) and the San Francisco Metro Area ($35,642) in terms of overall cost.
In total, the cost of raising a child in the DC Area was measured to be $35,554 annually.
The full cost breaks down as follows:
- Total annual cost: $35,554
- Food costs: $2,396
- Childcare costs: $24,886
- Medical costs: $2,165
- Housing costs: $2,762
- Transportation costs: $1,919
- Civic costs: $985
- Other costs: $441
What are the most affordable metro areas in America for raising a child?
Well, if you’re working remotely and don’t need to be living in the DC Area or just are curious what the most affordable metro areas are for starting a family in America in 2024, here are the ten most affordable featured in the study:
- New Orleans-Metairie, LA – $17,887
- Memphis, TN – $18,677
- Louisville/Jefferson County, KY – $19,830
- St. Louis City, Missouri – $19,858
- Orlando-Kissimmee-Sanford, FL – $20,173
- Nashville-Davidson–Murfreesboro–Franklin, TN – $20,412
- Oklahoma City, OK – $20,460
- Kansas City, MO – $20,661
- Birmingham-Hoover, AL – $20,754
- San Antonio-New Braunfels, TX – $21,014
How did this study get its data?
According to the study’s methodology, they pulled data from February of 2024 associated with the annual costs of childless couples in each metro area and then compared those expenses to those of couples who had one child.
By comparing the cost of living across categories like food, housing, or transportation between couples without children and those with one child, the measured difference in annual cost was then considered to be added costs of raising a child in 2024.