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.

Latest Stories

in Music, Sports

San Fran bans Lorde’s ‘Royals’ for World Series run

Fresh
lorde

Ahead of game No. 1 between the Giants and Kansas City, California radio stations have removed the chart-topping song from their playlists.

in Entertainment

Jay Leno is the funniest man in America

jayleno

The former "Tonight Show" host received the Mark Twain Prize for American Humor at the Kennedy Center Honors.

in Entertainment

REVIEW: Too familiar ‘Fury’ misses glory

This photo released by Sony Pictures Entertainment shows Brad Pitt as Wardaddy in a scene from "Fury."

Brad Pitt is fantastic, but Fury can't go out in the blaze of glory it aimed for.