Peekskill Area Ranked In Top 10 Priciest Places To Raise A Family

By Wendy Ann Mitchell

A new study done by Market Watch ranked Westchester County as one of the most expensive places in the country to raise a family. It ranks at No. 3, just behind Nassau-Suffolk, New York and Washington, D.C.

According to the Economic Policy Institute, a family of four needs between $50,000 to $100,000 to cover expenses, not including savings.

The study researched over 600 metro areas and calculated the cost of living in each city based upon housing, child care, food, transportation, health care, and related expenses in caring for two children.

Child care was noted as one of the biggest annual expenses, averaging between $12,500 to $30,000 annually.

These are the 10 priciest places to raise a family of two parents and two children, according to Market Watch:

1. Washington, D.C.
2. Nassau-Suffolk, New York
3. Westchester County, New York
4. New York City, New York
5. Stamford-Norwalk, Connecticut
6. Honolulu, Hawaii
7. Poughkeepsie-Newburgh-Middletown, New York
8. Ithaca, New York
9. San Francisco, California
10. Danbury, Connecticut

Market Watch writes of Westchester County’s ranking, “Like Long Island, this suburban region outside New York City is notably pricey for families — $99,592 on average. The area shares many of the characteristics of Nassau–Suffolk County, including high taxes ($15,589 a year on average).”

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