The cost to raise a child born in 2009 is $222,360 during their first 18 years, according to the most recent U.S. Department of Agriculture study.
The $222,360 cost to raise a child for a middle income family. The USDA also published the cost to raise a child for other incomes:
- Families making less than $56,670: $160,410
- Families making more than $98,120: $369,360
The amounts do not include the cost of college.
Source: Business Week
Yikes. I knew it was up there, but almost a quarter million, wow. This is why there are so many families with only one or two children. Looks like we’re getting more and more like Europe. Thanks for the eye opener!