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Cost of Raising a Child

Cost of Raising a Child

Recently, the U.S. Department of Agriculture (USDA) released its annual report, Expenditures on Children and Families.

The report shows that "a middle-income family with a child born in 2013 can expect to spend about $245,340 ($304,480 adjusted for projected inflation*) for food, housing, child care and education, and other child-rearing expenses up to age 18. Costs associated with pregnancy or expenses occurred after age 18, such as higher education, are not included."

Child Care and Education costs are second only to housing expenses, and are higher than the expenses for Food, Transportation, Clothing and Health Care. Child care and Education costs increased from 2012 and now comprise 18% of the total expenditures of raising a child,

More information can be found below:

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Read the Full Report
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