From diapers and formula, to daycare and new clothing, it’s no surprise that the financial costs associated with caring for a child in their first years of life can come at a pretty penny — especially in Massachusetts.

While over half of Americans underestimate their state’s average cost to care for a child in their first year, Massachusetts leads the pack as the most expensive, with average annual day care alone costing $24,472 a year, according to a survey published by CardRates.com.

The survey asked 2,100 participants nationwide to estimate five child care expenses including day care, diapers, formula, food and new clothing. It found that Americans nationwide underestimate the annual costs associated with caring for a child in their first year.

• Read more: Have thoughts on child care? The state’s Child Care Task Force wants to hear ‘em

For day care costs, Bay Staters estimated an expense of $12,738 annually — reflecting a $11,734 difference from what actual costs are according to CardRates.com.

“Therefore, the annual cost of day care is 63% higher in Massachusetts than residents expect,” the release states.

Trailing behind Massachusetts is Washington, D.C, at $24,417, New York at $21,826, Hawaii at $20,647, and Colorado at $19,573.

Participants from New York underestimated day care costs by $8,368, while Washington, D.C participants underestimated by $8,217, and Hawaii underestimated by $7,488.

• Read more: Mass. Senate Dems plan vote on bill expanding access to early ed., childcare

Massachusetts ranking as the most expensive in the nation for child care may be less of a surprise to some than others.

Though Massachusetts respondents underestimated day care costs by over $10,00, organizations such as the U.S News & World Reports, reported Massachusetts as the most expensive state for day care costs as early as 2017 — reporting an annual average cost of $17,000 even at that time.

While the Bay State is the most expensive for day care costs and shows the greatest discrepancy between residents expected costs versus reality, the study shows all states underestimated the actual costs of a baby’s first year overall, being 37% more expensive than anticipated.

Respondents underestimated costs of day care, formula and food, while overestimating costs of diapers and clothes.

For day care, the average cost is $13,266 per year whereas the average estimate was $12,055, showing a $1,211 difference, CardRates.com reported.

For formula, the average estimate was $2,287 though the actual annual, average cost is $4,800 — a $2,513 increase from what respondents expected.

• Read more: Free YMCA memberships available for Boston teens this summer

Overall, the survey showed child care costs are nationally underestimated by $6,934. The national average for caring for a child in their first year is $22,111 according to CardRates.com.

Data used in determining national averages was pulled from organizations such as Child Care Aware of America, BabyCenter, the Center on Budget and Policy Priorities, Gerber Childrens wear, and the U.S. Department of Agriculture.

Respondents from Massachusetts and New Hampshire were closest in their total annual cost estimations, differing less than $3,000, according to CardRates.com.