Raising Kids in Lubbock, Texas, Has Its Own Financial Challenges

Many young people are graduating college this season, which means weddings are right around corner for some. Inevitably, this means that some children won't be too long after, so what will it take to raise a youngster in the City of Lubbock? Let's find out!

Average Lubbock Family

In Lubbock, Texas, the average family household consists of 2.3 children... for the sake of not cutting children in half, I'll go ahead and round down to a flat two kids per family. 

According to Lending Tree, Texas ranks 41 out of 50 when it comes to lowest annual cost of raising one small child. This means that 40 states are all more expensive to raise a kid each year than Texas. 

The total annual cost of raising a small child in Texas is about $20,889. This takes into account food, transport, health insurance, and even rent. However, when you take into account the fact that average rent prices in Lubbock are a bit lower than the rest of the state, your total annual cost will be a little different. 

It Takes a Village...

When it comes to an 18-year cost of raising a child until adulthood, Texas ranks a little higher at 37. That's right, the average cost of raising a child for 18 years in the State of Texas is about $232,690.

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In Lubbock, where the average household income is $60,487, this is quite a bit of money. But, then again, can you really put a price tag on the blessings that are your children?... Don't answer that.