How Much It Costs To Raise A Child In NYC Might Surprise You (In A Good Way)
How much it costs to raise a child in NYC is certainly a pricey undertaking, as most parents know well. But believe it or not, there are some locations that have it worse than the Big Apple.
On average, it costs $25,181 per year to raise a child in a large metro area in the United States, according to a study from SmartAsset. But eight locales top our beloved metropolis. (Cue the gasps!)
How much it costs to raise a child in NYC and other metro areas
There are plenty of things to do with kids in NYC and plenty of expenses that a tiny urbanite incurs. To find out how parents’ wallets will be affected upon welcoming a tot, SmartAsset examined cost of living data across 50 of the largest U.S. metro areas, ranking them from most to least expensive. Those behind the study took the following expenses into consideration: childcare, additional housing costs, food, transportation, medical costs, and other necessities.
With that in mind, here is a breakdown of the top 10 most expensive cities to raise a little one, and NYC is very surprisingly on the lower end of the list (at a whopping $30,000+ annually).
- Boston-Cambridge-Newton, MA: $37,758
- San Francisco-Oakland-Berkeley, CA:$35,642
- Washington, DC: $35,554
- San Jose-Sunnyvale-Santa Clara, CA: $34,415
- Hartford-East Hartford-Middletown: $32,135
- Denver-Aurora-Lakewood, CO: $31,663
- San Diego-Chula Vista-Carlsbad, CA: $30,829
- Seattle-Tacoma-Bellevue, WA: $30,781
- New York-Newark-Jersey City, NY: $30,463
- Los Angeles-Long Beach-Anaheim, CA: $30,231
NYC’s childcare expense breakdown
So, where does all of the money go, exactly? Here’s how the study broke down the info for New Yorkers:
- Food: $2,188
- Childcare: $17,475
- Medical: $2,565
- Housing: $3,983
- Transportation: $2,380
- Civic: $1,372
- Other: $499
So, what do you think about the findings? Were you surprised as to NYC’s standing? One thing’s for sure: little kids cost big money, no matter where you venture!
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