(NBC NEWS) – This may come as no surprise to parents, but it’s getting more expensive to raise children.
For a middle-income family, it will cost an average of about $245,000 to take care of a child from infancy to young adulthood, and that doesn’t include college.
Every year, the U.S. Department of Agriculture estimates the costs of housing, feeding, clothing and educating our children. This year’s report finds that cost went up 1.8 percent from the previous year.
Housing remains the biggest expense at 30 percent. It’s followed by education and child care at 18 percent. And food makes up 16 percent of the cost of raising a child.
The USDA’s first report in 1960 estimated the cost of raising a child to be just over $25,000.
For a link to the full report, click here.