News release: “Today, the U.S. Department of Agriculture (USDA) released its annual report, Expenditures on Children by 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. While this represents an overall 1.8 percent increase from 2012, the percentages spent on each expenditure category remain the same. As in the past, 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)…The report, issued annually, is based on data from the federal government’s Consumer Expenditure Survey, the most comprehensive source of information available on household expenditures. For the year 2013, annual child-rearing expenses per child for a middle-income, two-parent family ranged from $12,800 to $14,970, depending on the age of the child.”
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