Cost of raising a child over 18 years hits record high, study finds

According to a recent analysis by the financial services firm Lending Tree, the cost of raising a child over 18 years of their life continues to rise and has now surpassed $300,000 for the first time since it began tracking.

The company noted that while child care costs over the first five years of their life have dipped slightly, the 18-year cost of raising a child has risen to more than $303,000 after tax exemptions and credits. That's an average of nearly $17,000 annually and an increase of over $5,700 since last year.

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Compared to 2023, parents can now expect to pay about $66,000 more per child over the first 18 years of their life. Categories that have seen some of the biggest cost increases include things like rent, day care, food and apparel. Lending Tree notes that the value of federal child tax credits has also decreased by $1,400 over the same time period.

States with the highest estimated costs of raising a child over 18 years

1. Hawaii — $412,661
2. Alaska — $365,047
3. Maryland — $326,360
4. California — $312,300
5. New Jersey — $312,295
6. Kansas — $303,250
7. Washington — $297,342
8. Arizona — $294,982
9. Nebraska — $294,926
10. Montana — $293,926

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States/districts with the lowest estimated costs of raising a child over 18 years

1. New Hampshire — $201,963
2. District of Columbia — $202,115
3. South Carolina — $204,213
4. Mississippi — $208,621
5. Alabama — $212,121
6. Iowa — $215,443
7. New Mexico — $218,588
8. Georgia — $222,713
9. South Dakota — $222,976
10. Ohio — $224,228

To view Lending Tree's full 2026 report, click here.