GOBankingRates released a study May 15 that determined the total cost of raising a child in America's 50 largest cities, based on both childcare costs and cost of living for each city.
For the study, the personal finance publication used U.S. Bureau of Labor Statistics data to find the cost if a parent paid for daycare starting at 2 years old through 12 years old in each city. The publication also examined U.S. Census Bureau data to find the cost of living for "a married couple with kids" in each city for that same 10-year period. The cost of childcare and the cost of living in each city for that same 10-year period were combined to determine the total cost of raising a child. Read more about the methodology here.
Here are the major cities with the highest and lowest total cost of raising a child, per the analysis:
Most expensive cities for raising a child
1. San Francisco
Total cost for raising a child: $308,343.83
2. San Jose, Calif.
Total cost for raising a child: $307,554.56
3. Oakland, Calif.
Total cost for raising a child: $256,931.08
4. San Diego
Total cost for raising a child: $251,005.51
5. New York City
Total cost for raising a child: $249,754.85
Most affordable cities for raising a child
1. Wichita, Kan.
Total cost for raising a child: $88,660.74
2. Memphis, Tenn.
Total cost for raising a child: $94,596.18
3. El Paso, Texas
Total cost for raising a child: $111,670.55
4. Nashville, Tenn.
Total cost for raising a child: $117,990.25
5. Louisville, Ky.
Total cost for raising a child: $120,061.13