HOUSTON (KIAH) – As inflation continues to impact household budgets, raising children can be more expensive for many new parents. As concerns for finances, health and safety become a growing concern for parents trying to raise a new family, the question for many can quickly become, ‘what is the best state to raise MY family, for the price?’
Personal finance website WalletHub is hoping to help answer the question with a new report on Best & Worst States to Raise a Family in the coming year. To find out which could be the most family-friendly state, WalletHub analyzed 50 of what they consider to be the most important indicators, from median annual family income to housing affordability and the unemployment rate. The goal of the findings is to help families make informed decisions about where to establish their family roots.
In the overall rankings, Texas secured the 28th position, when it comes to a variety of factors of concern for families. Notably, Texas excelled in the percentage of families with young children, claiming the second spot in the nation. However, the state faces challenges in child care costs, ranking 44th when adjusted for median family income.
Performance in key indicators for Texas:
Separation & Divorce Rate: 20th
Housing Affordability: 21st
Median Annual Family Income (Adjusted for Cost of Living): 22nd
Infant-Mortality Rate: 23rd
Violent Crimes per Capita: 39th
% of Families in Poverty: 42nd
Unemployment Rate: 43rd
Child-Care Costs (Adjusted for Median Family Income): 44th
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