CALIFORNIA COST CRUNCH: RAISING A CHILD NOW COSTS OVER ₦45M IN THE GOLDEN STATE

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By Newspot Nigeria Editorial Team

Raising a child in California has become more financially daunting than ever before, with a new study revealing that the annual cost has jumped to $30,059 — over ₦45 million using today’s exchange rates. The findings, released by LendingTree, place California as the fifth-most expensive state to raise a child in the U.S.

The study found that the 18-year cost of raising a child in the Golden State has skyrocketed to $286,951 — up from $225,627 in 2023 — representing a sharp increase of over 27%. This places California eighth overall in long-term child-raising costs across the United States.

“Californians have been hit with a massive spike in the annual cost of raising a child, making an already difficult financial situation for many families far more challenging,” said Matt Schulz, chief consumer finance analyst at LendingTree. “These costs are unlikely to do anything but continue to rise in the near future.”

The LendingTree team based its analysis on average annual costs including child care, housing (rent), food, healthcare, transportation, clothing, and other miscellaneous child-specific expenses. Notably, the study excludes potential tax credits or benefits, making the financial burden even clearer.

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Nationally, the cost of raising a child in America over 18 years now stands at $297,674, up 25.3% from the last analysis. Hawaii tops the list as the most expensive state, where the cost is a staggering $362,891 over 18 years, while Mississippi ranks lowest with $190,402.

The 35.7% jump in annual child-raising costs across the U.S. since 2023 has been blamed on inflation, increased demand for childcare services, and rising labor costs. Schulz warned that this escalation is placing new pressures on American families, many of whom are already grappling with soaring housing and healthcare bills.

For Nigerian readers observing from afar, the report offers a stark contrast to local realities. However, it also signals the global challenges of child-rearing in inflationary economies — a reminder of the growing economic pressures facing parents everywhere, regardless of geography.

As Newspot Nigeria continues to track international economic trends with local implications, we remain committed to informing and empowering Nigerian families with insights from around the world.

— Reported by Newspot Nigeria Editorial Team