A study found Maryland is the third most expensive state to raise a child. Here’s how much it costs.
A new report by LendingTree found that Maryland is the third most expensive state to raise a baby in, with households projected to spend $326,360 on the effort over 18 years.
According to the 2026 reportwhich pulls on information and statistics from 2024, the value of elevating a baby over 18 years topped $300,000 for the first time since the firm started monitoring in 2023. The 18-year value in the US has elevated to an annual common of $303,418, after tax exemptions and credit, the report reveals.
The evaluation additionally found that the prices of elevating a baby throughout the first 5 years have decreased due to slight drops in daycare prices.
Costs of elevating a baby in the US
By child-specific bills and family bills that may be impacted by kids, like lease, transportation and medical insurance prices, LendingTree decided that Hawaii is the most expensive state to raise a baby, with a mean 18-year value of $412,661.
Alaska is the second most expensive state to raise a baby, with prices of $365,047, the study found.
New Hampshire is the least expensive, at $201,115. Despite its proximity to Maryland, Washington, DC had the second-lowest 18-year value at $205,115.
Maryland is considered one of six US states the place households are projected to spend greater than $300,000 to raise a baby over 18 years previous, in accordance to the LendingTree evaluation.
The study additionally found that households in the US spend a mean of 21% of their earnings on elevating a baby. In DC, that quantity was decided to be 13.9%, the lowest amongst the states.
5-year prices of elevating young children
According to the report, lease, daycare for infants, and transportation are amongst the highest prices. The general value of elevating a small baby elevated by 15% in the final 12 months, from $31,601 in 2025 to $36,419 in 2026.
Maryland is the second most expensive when it comes to five-year prices at about $36,419, and Massachusetts follows with a five-year value of $34,247. Hawaii is first with five-year prices reaching $40,342, the study found.
LendingTree, an internet lending market, provided the following suggestions for folks navigating the prices of elevating kids:
- Start saving as quickly as attainable with a high-yield financial savings account
- Take benefit of office and authorities advantages, like versatile spending accounts (FSA) and tax credit
- Remind your self that extra expensive is not at all times higher; store at consignment shops or test the clearance rack for bargains
- Address high-interest debt as quickly as attainable
