How much does it cost to raise a child in Arizona?
UNITED STATES - AUGUST 18: Buildings dot the skyline of Phoenix, Arizona, U.S., on Tuesday, Aug. 18, 2009. (Photo by Joshua Lott/Bloomberg via Getty Images)
PHOENIX - The cost of raising a child is going up across the country, and that includes raising one in Arizona.
What we know:
LendingTree, an online marketplace that offers loans, analyzed the numbers and found that it could cost more than $255,000 to raise just one child until the age of 18.
Out of 50 states, Arizona ranks the 18th most expensive.
"My team at LendingTree analyzed the annual cost of raising a child, factoring in child-specific and household expenses like child care and rent," said Nelson Garcia of Lending Tree.
By the numbers:
"The 18-year cost to raise a child in Arizona has surged to $255,852. Nationwide, the cost of raising a child over 18 years is $297,674. This is a 25.3% increase since 2023," Garcia said.
Hawaii is the most expensive state, with an 18-year cost of more than $362,000. Mississippi is the lowest at just over $190,000.
"Families now spend 22.6% of their income on child-related expenses, up from 19%," Garcia added.
Dig deeper:
"The majority of our data is from 2023 based on availability, but our national day care data and our info on tax exemptions or credits are newer," LendingTree's website said.
Researchers looked at factors such as rent, food, daycare, clothes, transportation and health insurance.
What you can do:
Click here to learn more about LendingTree's findings.