The high costs of raising a family in the Valley
Jul 12, 2013, 4:18 PM | Updated: 4:19 pm
Recent estimates by the Economic Policy Institute revealed the high costs of raising a family in several metro areas of the country, including the Phoenix-Mesa-Scottsdale area.
The Atlantic Cities reported just how much is needed annually for families across several metropolitan areas in the US to lead a “secure yet modest living standard,” by calculating public transportation needs, child care and the number of people in the household.
But the federal poverty line, which sits at $23,550 for a family four, doesn’t take all those factors into account.
The numbers that come out the other end don’t look anything like the federal poverty line. How much does a two-parent, two-child household in New York City need? $93,502.
The local annual budget for a family of four in the Valley? $68,489.
Atlantic Cities says that just by making a little more than the poverty line won’t still get you anywhere far from that modest living standard.
