“In the Seattle-Tacoma metro area, parents should be ready to spend around $25,000 on one child in a single year,” Smart Asset spokesperson Ray Marek told MyNorthwest. “Nearly half of that goes to childcare – which costs more than $11,500 per year.”
When considering all the metro areas studied, the Bay Area leads the pack. In the San Francisco-Oakland-Berkeley area, it costs $35,647 to raise a child for one year. A couple with one child spends $10,499 more on housing than childless couples. The median value of a home in this part of California is over $1 million.
Santa Cruz-Watsonsonville came in second. Raising a child costs an extra $33,877 per year in this metro area, which is located about 70 miles south of San Francisco. Third is San Jose-Sunnyvale-Santa Clara. Parents with one child in the Santa Cruz-Watsonville area spend $12,636 more per year on housing than two adults with no children – the most across all 381 metro areas in our study.
If you are looking for the least expensive place to raise a child, Morristown, TN, Sumter, SC, and Jackson, TN, came in at the bottom of the 381 areas the survey measured. They averaged $14,841 to raise a child.
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