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The Cost of Raising a Child

The United States of Agriculture (USDA) just released its annual report which is known as the Cost of Raising A Child. 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, childcare 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.

While this represents an overall 1.8 percent increase from 2012, the percentages spent on each expenditure category remain the same.   

The full report, Expenditures on Children by Families, 2013, is  available on the web at www.cnpp.usda.gov. In addition, families can enter the number and ages of their children to obtain an estimate of costs with a calculator via the interactive web version of the report. The web site is: www.cnpp.usda.gov/tools/CRC_Calculator/default.aspx.”