Cost To Raise A Child in 2014

$245,340: Cost of raising a child born in 2013. A middle-income family with a child born in 2013 can expect to spend about $245,340 for food, shelter and other expenses up to age 18.

 

The report, issued annually by the USDA since 1960, found housing was the single-biggest expense, averaging about $73,600 or 30% of the total cost of raising a child, followed by child care/education at 18%.

Child care costs have soared dramatically since the first report 53 years ago. Back then, a middle-income family could have expected to spend $25,230 ($198,560 in 2013 dollars) to raise a child until the age of 18.

source: USDA