Buckle up – this is how expensive it is to raise a child in NJ

No wonder I’m broke. No wonder all of us New Jersey parents are broke. It’s all making sense now.

You know having and raising kids is expensive. Not only the obvious things like food, clothing, higher health insurer premiums for ‘family plans’, etc... Also the more insidious things like the more bedrooms needed, the bigger mortgage or rent.

When kids are school age, you seek a town where schools are better which means you’re likely paying higher property taxes in support. On and on. Yet we who wanted kids try not to think about the money. It’s like we’d rather not know.

If you don’t want to know, stop reading.

Your kids are draining you

A study just out by Smart Asset shows New Jersey is the 13th-most expensive state to raise a child. Per year one kid costs you an extra $4,054 a year in housing costs. $2,068 annually per kid for food. $13,674 per year for childcare.

When added all up, raising one kid in New Jersey averages $26,870 per year. If your jaw just hit the floor I’m right there with you. Because I have four kids. So $107,480 a year?

This is insane.

Yet as bad as this seems it could have been worse. New Jersey is a notoriously expensive state and one might have guessed the cost would have been even higher.

It is in 12 other states

Nevada (#12) is marginally higher at $26,914 and Vermont (#11) costs $27,170.

Here are the Top 10 most expensive states to raise a kid.

1. Massachusetts: $35,841
2. Hawaii: $35,049
3. Connecticut: $32,803
4. Colorado: $30,425
5. New York: $30,247
6. California: $29,468
7. New Hampshire: $27,849
8. Washington: $27,806
9. Rhode Island: $27,630
10. Minnesota: $27,406

For our comparison shoppers out there, the current average cost of a vasectomy is $1,580.

Opinions expressed in the post above are those of New Jersey 101.5 talk show host Jeff Deminski only.

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