"The average cost of raising a child over the course of 18 years in the U.S. has reached $303,418, according to a new study from LendingTree."
"Hawaii is the most expensive state to raise a child, with LendingTree projecting a price tag of $412,661. Alaska and Maryland follow behind with $365,047 and $326,360, respectively."
"Childcare costs are by far the highest expense for families with children under 5, according to LendingTree's analysis. Parents in Hawaii pay an average of $40,342 per year."
"Inflation is just taking a toll, clearly, on people, and it's certainly one of the reasons why we saw such significant growth here."
The average cost of raising a child in the U.S. has reached $303,418 over 18 years, with Hawaii being the most expensive at $412,661. Alaska and Maryland follow with costs of $365,047 and $326,360, respectively. New Hampshire is the cheapest state at $201,963. The overall cost has increased by 1.9% due to rising rent and clothing prices. Childcare is the highest expense for families with children under 5, with Hawaii averaging $40,342 annually for childcare.
Read at Fortune
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