H
omebuyers with kids are becoming increasingly rare, according to the National Association of Realtors' 2024 Profile of Home Buyers and Sellers. Only 27% of recent buyers had a child under 18 living with them, down from 30% last year and 58% in 1985.

    Rising home prices and high childcare costs are making it difficult for families to afford both a home and raising children. The income required to buy a median-priced home is well above the average household income, says Hannah Jones, Realtor.com's senior economic research analyst. Childcare costs can be as high as $2,182 per month for two children.

    Many parents are choosing between owning a home or having kids due to financial constraints. A TikTok user shared her experience of spending $506 per week on daycare for two kids, which is unaffordable alongside mortgage payments. Real estate agents report that clients are delaying buying homes until their children are older and no longer require childcare.

    The cost of raising two children from birth to age 17 can be around $832,200, according to Investopedia. This, combined with high housing costs, is making it difficult for families to afford both a home and raising children. Some parents are choosing to rent instead of buying due to the high cost of closing costs and mortgage payments.

    Real estate agents in big cities report that families are moving out of state to more affordable areas where they can get more bang for their buck. The 10 most expensive states to raise children include Massachusetts, Hawaii, and California, where parents need to earn over $250,000 per year to live comfortably. In contrast, the 10 least expensive states include Mississippi, Arkansas, and West Virginia, where families can afford a higher quality of life with lower housing costs.