Money in Your Pocket: The cost of raising a middle class family in Central New York

SYRACUSE, N.Y. (WSYR-TV) - A study from the Economic Policy Institute recently did a survey and they say it costs a lot to raise a family locally.

On average, a family of four costs almost $81,000 per year here in Central New York.

Nationally, the low number is $50,000.  The high number is just over $100,000 in Washington, DC.

The big expense is child care, which is estimated to cost $2,000 per month for two kids.

Here in New York, you’ll have to come up with average taxes of $910 a month.

Healthcare turns out to be $858 a month.

So if you want to raise a family of 4 in a middle class fashion here in Central New York, according to the Economic Policy Institute, plan on spending about $81,000 per year.

More Stories

Don't Miss

Trending Stories

Latest News

Video Center