FAIRFIELD COUNTY, Conn. -- A new study has found that the Stamford-Norwalk and Danbury areas of Fairfield County are among the 10 most expensive places to live in the country, according to MarketWatch.
The ranking of the most expensive places to raise a family uses data from the Economic Policy Institute that studies how much families need to spend to get by. The data looks at the cost of simply paying the bills based on costs of housing, taxes, childcare, healthcare, and other expenses, without taking savings into account. The most expensive city to raise two kids is Washington, D.C., according to MarketWatch, followed by Nassau-Suffolk, N.Y. and Westchester County.
According to MarketWatch's analysis of the most expensive places for two parents to raise two children, the Stamford-Norwalk area came in at number 5. A family of four would need $97,350 per year just to pay the bills, with housing, taxes and other necessities providing the biggest expense, MarketWatch said.
Danbury came in at number 10 on the list, costing a family of four $89,000 per year to raise two kids, according to MarketWatch. The highest drivers of cost were housing, childcare and taxes, MarketWatch said.