Redfin Study shows San Jose, Calif. as the Most Expensive American City to Have a Baby; U.S. Average $26,000 in Year One Real Estate Brokerage Ranks Top 40 Most Expensive Cities based on Housing, Childcare, Baby Items, Healthcare and Utilities in Baby's First Year

SEATTLE, Aug. 7, 2013 /PRNewswire/ -- Redfin (www.redfin.com), the technology-powered real estate brokerage, today released a report examining the cost of being a parent during baby's first year. It includes a ranking of 40 cities based on housing data from multiple listing services (MLSs) across the country, as well as the expense of childcare, healthcare, baby items and utilities compiled from various government and public sources.

(Photo: http://photos.prnewswire.com/prnh/20130807/SF60206-INFO)

The most expensive US city to have a baby is San Jose, Calif.,where the average total cost of a newborn's first year was $41,600, compared to the $26,000 a new baby costs the average U.S. family. Santa Cruz, Calif. and  New York City are next, where the first year costs an estimated $38,800 and $36,700, respectively.

Not surprisingly, housing and childcare costs are interchangeably the two most costly aspects of raising a new child. To determine housing costs, Redfin calculated the average cost of upgrading from a two-bedroom home to a three-bedroom home. For example, an additional bedroom in San Jose costs about $225,000 or $20,000 per year in additional mortgage payments on a 30-year fixed 4.5 percent loan. On the other end of the spectrum, a third bedroom in Las Vegas is about $44,000, or $4,000 per year.

Key findings of the report include:

The top 40 most expensive cities to have a baby:

Metro Area

Total Cost

Housing

Childcare

Baby Items

Healthcare

Energy

1. San Jose, CA

$41,600

$19,900

$12,600

$5,600

$3,000

$600

2. Santa Cruz, CA

$38,800

$19,700

$9,900

$5,600

$3,000

$600

3. New York, NY

$36,700

$13,400

$13,700

$5,600

$3,000

$1,000

4. San Francisco, CA

$35,900

$15,300

$11,400

$5,600

$3,000

$700

5. Boston, MA

$34,000

$10,200

$14,400

$5,600

$3,000

$900

6. San Diego, CA

$32,700

$13,300

$10,200

$5,600

$3,000

$600

7. Santa Rosa, CA

$32,000

$11,800

$11,000

$5,600

$3,000

$600

8. Oxnard, CA

$31,400

$12,100

$10,100

$5,600

$3,000

$600

9. Los Angeles, CA

$30,100

$10,600

$10,400

$5,600

$3,000

$600

10. Washington, DC

$29,800

$9,300

$11,200

$5,600

$3,000

$700

11. Worcester, MA

$28,700

$6,300

$13,200

$5,600

$3,000

$700

12. Denver, CO

$28,200

$7,700

$11,400

$5,600

$3,000

$500

13. Seattle, WA

$27,400

$9,000

$9,100

$5,600

$3,000

$700

14. Boulder, CO

$27,300

$8,400

$9,800

$5,600

$3,000

$500

15. Salinas, CA

$27,300

$7,800

$10,300

$5,600

$3,000

$600

16. Providence, RI

$26,700

$7,400

$10,000

$5,600

$3,000

$800

17. Sacramento, CA

$26,300

$8,000

$9,200

$5,600

$3,000

$500

18. Portland, OR

$25,800

$8,000

$8,700

$5,600

$3,000

$600

19. Baltimore, MD

$25,600

$6,400

$9,900

$5,600

$3,000

$700

20. Chicago, IL

$25,500

$5,900

$10,300

$5,600

$3,000

$800

21. Modesto, CA

$24,500

$6,700

$8,600

$5,600

$3,000

$600

22. Riverside, CA

$24,500

$5,600

$9,800

$5,600

$3,000

$500

23. Fort Collins, CO

$24,400

$5,500

$9,900

$5,600

$3,000

$500

24. Stockton, CA

$24,100

$5,900

$9,200

$5,600

$3,000

$500

25. Trenton, NJ

$24,000

$6,100

$8,400

$5,600

$3,000

$1,000

26. Greeley, CO

$23,300

$3,800

$10,500

$5,600

$3,000

$500

27. Bremerton, WA

$22,700

$5,100

$8,500

$5,600

$3,000

$600

28. Hagerstown, MD

$22,600

$4,600

$8,900

$5,600

$3,000

$500

29. Philadelphia, PA

$22,600

$5,200

$8,100

$5,600

$3,000

$800

30. Raleigh, NC

$22,500

$6,800

$6,600

$5,600

$3,000

$500

31. Salem, OR

$22,400

$5,500

$7,900

$5,600

$3,000

$500

32. Charlotte, NC

$22,100

$6,500

$6,600

$5,600

$3,000

$500

33. Phoenix, AZ

$22,000

$6,200

$6,800

$5,600

$3,000

$500

34. Austin, TX

$21,700

$6,100

$6,500

$5,600

$3,000

$600

35. Miami, FL

$21,300

$6,600

$5,500

$5,600

$3,000

$700

36. Durham, NC

$21,100

$5,500

$6,500

$5,600

$3,000

$500

37. Houston, TX

$19,700

$4,900

$5,600

$5,600

$3,000

$600

38. Las Vegas, NV

$19,500

$3,900

$6,500

$5,600

$3,000

$600

39. San Antonio, TX

$18,700

$4,100

$5,600

$5,600

$3,000

$500

40. Atlanta, GA

$18,500

$4,500

$5,000

$5,600

$3,000

$500

To read the report including the full methodology, click the following link. http://blog.redfin.com/blog/2013/08/baby-youre-expensive.html

About Redfin

Redfin (www.redfin.com) is a technology-powered real estate broker that represents people buying and selling homes. Founded and run by technologists, Redfin has a team of experienced, full-service real estate agents who are advocates, not sales-people, earning customer-satisfaction bonuses, not commissions. Redfin's online tools feature all the broker-listed homes for sale, as well as for-sale-by-owner properties that don't pay brokers a commission. The company serves 22 U.S. markets and has closed more than $8 billion in home sales. In 2012, Redfin was named one of The DIGITAL 100: World's Most Valuable Private Tech Companies by Business Insider. Follow us on our blog (blog.redfin.com), Twitter (@redfin), and Facebook (facebook.com/redfin), Redfin Collections (www.redfin.com/collections), and on our mobile apps (www.redfin.com/mobile). 

SOURCE Redfin



RELATED LINKS
http://www.redfin.com

Custom Packages

Browse our custom packages or build your own to meet your unique communications needs.

Start today.

 

PR Newswire Membership

Fill out a PR Newswire membership form or contact us at (888) 776-0942.

Learn about PR Newswire services

Request more information about PR Newswire products and services or call us at (888) 776-0942.