Ho Much It'll Cost You To Raise A Child In 2020

Are you looking to start a family anytime soon?

According to a new Value Penguin report:

Total spending for a two-child household over 18 years will cost $252,072.

Annually, parents will spend $14,000 on each child.

Of course, it will be more expensive to raise a child depending on where you live.

The most expensive metro areas to raise a child include:

San Francisco-Oakland-Berkeley, CA ($18,429 a year, per child)

San Jose-Sunnyvale-Santa Clara, CA ($18,121)

Urban Honolulu, HI ($17,392)

New York City Metro ($17,378)

Washington DC Metro ($16,496)

Minnepolis/St. Paul/Bloomington ($14,368)

As for the biggest expenses when raising a child, housing costs is the largest annual expense, about $3,970 per child.

Other top expenses include:

Food ($2,480

Childcare and education ($2,280)

Yahoo Finance

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