How much does it cost to raise a child in 1996?

How much does it cost to raise a child in 1996?

Child-raising costs in the urban West are higher than the rest of the country primarily because housing is more expensive. Thus, the average cost in the United States for a middle income family to raise a child born in 1996 to age 18 totaled an estimated $149,820.

How much did it cost to raise a child in 1995?

U.S. families will spend a hefty average of $145,320 to feed, clothe, house and school a child born in 1995 to age 18, a federal report estimated. The figure was up 6.6% from the previous year. The annual cost of raising a child ranged from $7,610 to $8,710.

How much did it cost to raise a child born in 1990?

Middle-income parents in the 1990s, however, were the ones who got hit with the largest costs related to raising kids. For children born in 1990, parents could expect to pay around $365,566 (or $210,070 adjusted for inflation) by the time their kid turned 17.

How much did it cost to raise a child born in 1991?

RAISING CHILD BORN IN 1991 WILL COST AT LEAST $300,000 WITHOUT COLLEGE – The Morning Call.

How much does it cost to raise a kid in 2020?

The cost of raising a child until age 17 is $233,610 on average. Low-income married couples spend $174,690 on average to raise a child. Low-income single parents spend $172,200 to raise a child from birth until age 17. The average amount spent on raising a child in the Urban West is $245,460.

How expensive is a child per year?

But the fact is, kids are expensive. In its Expenditures on Children by Families report, the USDA puts the cost of raising a child from birth to age 18 at $233,610 for a middle-income family (married with two kids) — around $12,980 per year.

What is the cost of raising a child?

How much does it cost to raise a child? Many new parents make the mistake of underestimating the expenses required to have a child and raise it to the age of 18 or when they go off to college.

How much does it cost to raise a child in 2020?

Cost of Children: Stats and Facts (Editor’s Pick) The cost of raising a child until age 17 is $233,610 on average. Low-income married couples spend $174,690 on average to raise a child. Low-income single parents spend $172,200 to raise a child from birth until age 17.

How much money does it cost to raise children?

In the US, the average cost of raising a child through the age of 17 is $233,610. This figure is based on data compiled in the most recent Expenditures on Children by Families report completed by the United States Department of Agriculture (USDA).

How much does it cost to raise a kid until 18?

In its Expenditures on Children by Families report, the USDA puts the cost of raising a child from birth to age 18 at $233,610 for a middle-income family (married with two kids) — around $12,980 per year.

What was the cost of raising a child in 2010?

Just one year of spending on a child can cost up to $13,830 in 2010, compared to $9,860 a decade ago. “Everything is more expensive and each family makes its own set of trade-offs,” said Ellen Galinsky, president of the Families and Work Institute in New York.

Is the cost of raising a child tracked by USDA?

USDA recently issued Expenditures on Children by Families, 2015. This report is also known as “The Cost of Raising a Child.” USDA has been tracking the cost of raising a child since 1960 and this analysis examines expenses by age of child, household income, budgetary component, and region of the country.

How much does it cost to raise a one year old child?

For a one-year-old child, costs range from $96.40 per month to $177.70, with the moderate plan running $146.60 a month. By the time a child is nine-years-old, that moderate-cost plan has risen to $273.70. On the same plan, a male 18-year-old eats $311 worth of food every month, and a female, $248.50. 2 

Why does it cost less to have more children?

Each additional child costs less because children can share a bedroom; a family can buy food in larger, more economical quantities; clothing and toys can be handed down; and older children can often babysit younger ones. Food costs have decreased over the years thanks to increased efficiency in American agriculture.