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).
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.
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