RI Among States With Highest Costs Of Raising A Small Child

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

Rhode Island is among the states feeling it most. The Bay State is the 15th-most expensive place in the country to raise a young child.

The annual cost of raising a kid in Rhode Island is $26,141, the analysis found.

The situation is better for the cost of raising a child over 18 years, where Rhode Island comes in at 21st, or $250,851. That's because the high cost of day care in Rhode Island contributes to the annual cost of raising a young child. The study included five years of day care, which costs at $16,899 annually in Rhode Island

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.

Read more: Here's How Much It Costs To Raise A Child In RI.

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