It costs this much to raise a child in New York and New Jersey

articleThe Brief Raising a child to age 18 costs an average of $303,418, but the actual price tag depends heavily on where you live. Hawaii is the most expensive state, while New Hampshire is the cheapest. In 22 states, parents dedicate at least 20% of their annual income to raising a child. New Jersey is the fifth most expensive state with costs reaching $312,295, while New York grabs the No. Hawaii currently ranks as the most expensive state for parents, with the total financial burden exceeding $412,000.