Cost of Raising a Family in Different U.S. States

SOURCE www.cnbc.com
Massachusetts is the most expensive state to raise a family of four, requiring an annual income of $301,184 to live comfortably. In contrast, Mississippi is the least expensive state, with an annual income requirement of $177,798.

Key Points

  • Massachusetts requires the highest annual income of $301,184 for a family of four to live comfortably
  • Mississippi is the least expensive state, needing only $177,798 per year for a family of four
  • Urban states like California and New York have higher costs of living but also higher wages compared to rural states

Pros

  • Provides insights into the income needed for a family of four to live comfortably in different U.S. states
  • Highlights the differences in costs of necessities like housing, child care, food, and medical expenses across states

Cons

  • Does not delve into specific regional variations within states
  • Does not address other factors affecting the cost of living, such as taxes or transportation expenses