CHARLOTTE, N.C. — As Americans continue to feel the effects of record inflation, a new report indicates the Carolinas are among the cheaper states for raising a family.
According to LendingTree, South Carolina is the cheapest state for raising children. The Palmetto State came in at No. 1 when it comes to raising a child over the course of 18 years. But it's still not cheap, racking up a cost of around $169,000.
Meanwhile, North Carolina is in the middle of the pack at No. 23. Researchers say over those 18 years, North Carolinians will pay an average of $217,000 to raise a child.
Nationwide, the average cost of essentials went up 19.3% between 2016 and 2021 to $21,681 per year. That comes out to $237,482 over 18 years. Hawaii was the most expensive at $30,506 per year. Washington D.C. and Washington state were the rest of the top three.
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The study highlights the cost of raising a child, specifically costs that only impact parents and not their child-free counterparts. Those costs included rent, food, energy, clothes, transportation and taxes.
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