News

Report: Cost to raise today’s child tops $245,000

Report: Cost to raise today’s child tops $245,000

PAYING FOR BABY: The USDA's report was first issued in 1960, when a middle-income family spent about $25,230 per child. That's about $198,000 in 2013 dollars. Photo: clipart.com

WASHINGTON (AP) — A federal report finds that an American child born last year will cost a middle-income family an average of more than $245,000 until he or she becomes an adult.

The Agriculture Department’s report found that families in the urban Northeast tend to pay more on average than the rest of the nation. The costs of food, housing, childcare and education have risen 1.8 percent since 2012.

The USDA’s report was first issued in 1960, when a middle-income family spent about $25,230 per child. That’s about $198,000 in 2013 dollars.

Housing expenses made up 30 percent of the cost, followed by childcare, education and food. The report didn’t factor in expenses after a child turned 18, such as college tuition.

Recent Headlines

in Lifestyle

‘Autisms’ a more appropriate term, geneticists say

Fresh
autism

There are so many different genetic forms of autism that using the singular term is misleading, researchers say.

in Entertainment

Emma Watson is Belle in Beauty and the Beast

Fresh
emmawatson

The former "Harry Potter" star will play the princess in a live-action version of the Disney film.

in Entertainment

Seekers of the Hollywood Sign disrupt nearby neighborhood

hollywood

Like pilgrims flocking to a holy shrine, they come from all over the world to pay homage to a symbol of celebrity.

in Music, Viral Videos

Blake Shelton plays the ‘Whisper Challenge’

16-overlay6

Jimmy Fallon and Blake Shelton play a ridiculous guessing game involving noise-canceling headphones.

in Lifestyle

‘No-tip’ restaurant offers food for thought on pay, benefits

tip

The restaurant has reignited debate over working conditions in the food service industry.