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In the United States, the cost of raising a child through age up to 18 is $245,340 for a middle-income family.
Today, the USDA released its annual "Cost of Raising a Child" report, also known as the "Expenditures on Children by Families" report. This report estimates that a middle-class family with a child born in 2013 can expect to spend about $245,340 (or $304,480 when adjusted for projected inflation*) on food, housing, childcare, education, and other child-rearing costs up to the age of 18 in total.
How much does the typical household spend on the upbringing of a child?
According to a 2012 USDA estimate, a married, middle-class household with one child would spend $241,080 raising that child up to the age of 18 in 2012. A married couple with middle-class income was predicted to spend $233,610 on a child up to age 18, which is a drop of 3% from 2012 (the most recent year for which statistics are available).
How much does raising a teenager cost?
The average expense per year for a kid between the ages of 15 and 17 is $13,900. The demographics and economic ranges all show a consistent increase. When a child is a baby, those with higher incomes ($107,400 or more annually) spend $19,770 a year on their upbringing; by the time they are 17, that amount has increased to $23,380.
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