Photo by Amber Wilkie
We already know that D.C. has the most expensive childcare in the country. In a recent report by the Economic Policy Institute, we’ve now learned that the cost of childcare, coupled with other expensive necessities, ranks D.C. as the most costly place to raise a family.
While some families across the country can skate by with $50,000 a year, District couples with two children need more than double that—about $106,493. And that’s just enough money to pay for necessities—rent, groceries, healthcare, transportation, school supplies, and clothing—but doesn’t include savings for a rainy day.
The study looked at 618 metro areas, 500 of which parents’ cited childcare as the single most expensive cost annually. D.C. ranked first as the most expensive metro area to raise a family.
In our fair city, parents with two kids must shell out $31,158 a year for childcare, while the national average for childcare costs for a family of four is about $12,500 a year. A single-parent mother who earns the median income for her demographic could spend nearly her entire yearly salary on childcare here.
New York has a strong presence behind the District, with Nassau-Suffolk, Westchester County, and New York City all making the top 4.
Marketwatch first reported that D.C. is more expensive to raise a family than New York City.
The top 10 list was rounded out by Stamford-Norwalk, Conn., Honolulu, Poughkeepsie-Newburgh-Middletown, N.Y., Ithaca, N.Y., San Francisco, and Danbury, Conn.