Report from Michael LaFirenza of Lattice Publishing, written by Alex Miller of Upgraded Points who offer travel and financial expertise:
Below are some highlights from Upgraded Points’ newly released data study looking at the most expensive U.S. locations for raising kids, with data specific to Asheville.
Researchers calculated the percentage difference in the required living costs to maintain a modest but adequate standard of living for 2-adult households with children compared to 2-adult households without children, across 385 metropolitan areas and all 50 states.
The full study also includes a detailed methodology, as well as several interactive charts and tables.
Key Takeaways, With Data for Asheville, NC
- Children significantly increase household expenses: At the national level, having 1 child increases household costs by 40.4% annually on average, while having 2 children raises costs by 70.3%.
- Cost is a major deterrent: According to a recent Pew Research survey, 36% of adults aged 18 to 49 who do not have children cited affordability as a top reason for their decision.
- The cost of raising a child in the Asheville metro: For a 2-adult household in the Asheville metro area with no children, the average annual cost of maintaining a modest but adequate standard of living is $57,403. Adding 1 child brings that figure up to $77,506—an increase of 35.0%.
- Expenses for 2-child households: Families in the Asheville metro with 2 children see a total of $92,796 in average annual living costs, 61.7% higher than households without kids.
You can read the full study here, including all sources: https://upgradedpoints.com/news/most-expensive-cities-to-raise-kids/
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