CT Among States With Highest Costs Of Raising A Child, New Study Says

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

Connecticut is among the places feeling it most as it came in at No. 7 in the study. The expense of raising a child over 18 years is $287,368 in Connecticut.

Since Lending Tree's 2023 report, Connecticut experienced a 19.8% bump in the cost of raising a child.

There are now four states where it costs over $300,000 to raise a child over 18 years: Hawaii, North Dakota, Washington, and Maryland.

The study also ranked annual costs by state for raising a small child. Hawaii is the most expensive for families with young children with Massachusetts ranking second.

The news was slightly better here for Connecticut in this category, which ranked No. 11 for raising a small child. Connecticut also ranked No. 11 in day care expenses at $17,888 annually.

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 child over 18 years:

1. Hawaii
2. North Dakota
3. Washington
4. Maryland
5. Alaska
6. Wyoming
7. Connecticut
8. California
9. New Hampshire
10. Massachusetts

Read the full report at Lending Tree.

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