Michigan Is The 7th Most Expensive State To Raise A Child
A new survey by opploans.com determined the average amount of parents spend on their children each year. They surveyed more than a 1,000 parents from all 50 states and Michigan landed pretty high on that list.
On average, Michigan parent's spent $13,303 on their children each year. That makes Michigan the 7th most expensive state to raise a child. Parents in Washington DC spend the most money with an average of $17,920.50 spent on each kid, and that state where parents spend the least is Montana at only $2,000 per year.
The survey also broke down how much different types of parents spend, and it discovered some interesting statistics:
- Single Fathers spend more ($11,998) than single Mothers ($8,781) on their kids
- Divorced parents spend more ($9,232) than married parents ($8,368) on their kids
- Younger parents, between the ages of 18 and 34 spend more on their kids than older parents