USDA’s annual report, Expenditures on Children by Families, provides annual estimates for the cost of raising a child. This report provides families with an indication of expenses to anticipate, and is used by state and local governments in determining child support guidelines and foster care payments. Click to enlarge.
Today, USDA released its annual Expenditures on Children by Families report, also known as the “Cost of Raising a Child,” showing 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, childcare and education, and other child-rearing expenses up to age 18. The costs by location are lower in the urban South ($230,610) and rural ($193,590) regions of the country. Families in the urban Northeast incurred the highest costs to raise a child ($282,480). Read more »
The U.S. Department of Agriculture’s (USDA) annual report on the Expenditures on Children by Families has found that a middle-income family with a child born in 2012 can expect to spend about $241,080 for food, shelter, and other necessities associated with child rearing expenses over the next 17 years.
How much will that little bundle of joy cost? According to USDA’s Cost of Raising a Child report, the answer for a child born in 2012 is $241,080 for food, shelter and other necessities over the next 17 years, which translates to about $301,970 when adjusted for inflation!
Speaking as a father and a grandfather, I know how much we as parents want to give our children the tools they need to excel at anything they set their minds to—from the essentials, like a roof over their heads and a quality education, to the fun stuff, like a brand new soccer ball, piano lessons or a trip to summer camp. We work hard to ensure our children’s future happiness and success each and every day. Read more »