August 19, 2014

$245,340 to Raise a Child Born in 2013

WASHINGTON, August 18, 2014 - "U.S. Department of Agriculture (USDA) released its annual report, Expenditures on Children and Families, also 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."

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