MA Among States With Highest Costs Of Raising A Small Child

MASSACHUSETTS — The annual costs of raising a small child have jumped 35.7% since 2023, according to a new Lending Tree study.

Massachusetts is among the places feeling it most. The Bay State is the second-most expensive place in the country to raise a young child.

The annual cost of raising a kid in Massachusetts is $33,004, the analysis found. Hawaii is the only state more expensive for families with young children.

The situation is slightly better for the cost of raising a child over 18 years, where Massachusetts comes in at 10th, or $282,007.

That's because the high cost of day care in Massachusetts contributes to the annual cost for raising a young child. The study included five years of day care, which costs at $24,005 annually in Massachusetts.

Nationally, the cost of raising a child has increased significantly, with day care costs increasing the most — 51.8% — since Lending Tree did its last study in 2023. Food went up 29.6% and health insurance premiums went up 25%. Also, tax credits for parents shrank by 44.4%.

The study looked at costs in the following categories: rent, food, infant day care, girls apparel, transport, health insurance premiums, and value of exemption or credit.

Here are the top 10 most expensive states to raise a small child:

1. Hawaii
2. Massachusetts
3. Washington
4. Maryland
5. California
6. Minnesota
7. New Jersey
8. New York
9. District of Columbia
10. Colorado

The cheapest state to raise a small child is South Carolina with an annual cost of $17,699.

Read the full report at Lending Tree.

It's not all doom and gloom for Massachusetts. While it might be expensive to raise a kid here, at least you're getting bang for your buck — one study found it was the best state to raise a family.

Read more: MA Named Leader Among Best States To Raise A Family, New Report Says