How much do you think it costs to raise your children? Most parents probably have not stopped to calculate it and would probably say “whatever it is, it’s worth it.” Well, if you’ve not done it, someone has crunched the numbers for you – for what it’s worth.
Upgraded Points’ newly released data look at the most expensive U.S. locations for raising kids, and the cost is $19,000-a-year in Gainesville.
Researchers calculated the percentage difference in the required living costs to maintain a modest but adequate standard of living for 2-adult households with children compared to 2-adult households without children, across 385 metropolitan areas and all 50 states
Below are some highlights from the report’s findings regarding Gainesville. The full study also includes a detailed methodology, as well as several interactive charts and tables.
Key Takeaways, With Data for Gainesville, GA
- Children significantly increase household expenses: At the national level, having 1 child increases household costs by 40.4% annually on average, while having 2 children raises costs by 70.3%.
- Cost is a major deterrent: According to a recent Pew Research survey, 36% of adults aged 18 to 49 who do not have children cited affordability as a top reason for their decision.
- The cost of raising a child in the Gainesville metro: For a 2-adult household in the Gainesville metro area with no children, the average annual cost of maintaining a modest but adequate standard of living is $52,116. Adding 1 child brings that figure up to $71,388—an increase of 37.0%.
- Expenses for 2-child households: Families in the Gainesville metro with 2 children see a total of $86,484 in average annual living costs, 65.9% higher than households without kids.
You can read the full study here, including all sources: https://upgradedpoints.com/news/most-expensive-cities-to-raise-kids/ – Google Search