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How much does it cost to raise a child?

How much does it cost to raise a kid in the U.S.?

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According to a new U.S. Department of Agriculture report, it costs approximately $300,000 to raise a child. This figure does not inlude college tuition. The total amount represents costs for food, shelter and other necessities to raise a child for 17 years. The annual cost of raising a child today in a middle class family is around $12,290 to $14,320, depending on the age of the child, according to the report.

[A] middle-income family with a child born in 2011 can expect to spend about $234,900 ($295,560 if projected inflation costs are factored in). That’s a 3.5% increase from 2010 and a 23% hike from 1960 (that’s when the USDA first issued this report) when the cost of raising a child was equivalent to $191,723.

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