The decision on where to start your family can be fraught with challenges. A location with great schools, for example, may be lacking when it comes to easily accessible healthcare. And a community that offers engaging cultural activities might be unaffordable.
If trying to make a decision on where to raise your family has left you with more questions than answers, it might be time to consider what the experts have to say. Personal finance website WalletHub recently released its analysis of the country’s best and worst states for aspiring young families. The rankings accounted for several factors – including median annual family income, housing affordability, and school quality.
“Raising a family has become significantly more expensive in recent years as the cost of living has risen quickly. In fact, it can cost a family well over $300,000 to raise a child to age 18, according to statistics from the U.S. Department of Agriculture,” said WalletHub analyst Chip Lupo, in a statement.
“In light of the expensive nature of being a parent and the responsibility it entails, it’s important to live in a city that is affordable while still providing quality health care, education, safety and opportunities for enrichment.”
WalletHub’s analysis compared the 50 states’ performance across five dimensions: family fun, health and safety, education and childcare, affordability, and socioeconomics. The scores in each dimension were based on 50 metrics, which were used to develop a weighted average. Data for the study came from several sources, including the U.S. Census Bureau, the Bureau of Labor Statistics, and the National Center for Education Statistics.
Continue reading to see which American states were ranked as the best locations to raise a family.
