United States Department of Agriculture,United States,Parenting,Cost

Yikes! In the US, parenting now costs $233K per child

January 10, 2017

—It now costs nearly a quarter of a million dollars to raise a child in the United States. A new report from the US Department of Agriculture (USDA) says that the estimated average costs of raising a child born in 2015 through age 17 has risen to $233,610, a 3-percent increase from 2014. This annual report, prepared by the USDA since 1960, has long been a source for government institutions to help determine levels of child support and foster care guidelines. It tracks seven categories, ranging from transportation to clothing, but doesn’t include the annual cost of college or any government aid received. “This report, which we have produced for 55 years, gives families a greater awareness of the expenses they are likely to face, and serves as a valuable tool for financial planning and educational programs, as well as courts and state governments,” Kevin Concannon, under secretary for food, nutrition and consumer services, said in a statement. Concluding that the wealthier the family, the more expensive it is...

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