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 News

in Music

This week’s top alternative tracks

beck

LISTEN: This week's top alternative songs, according to the weekly Billboard chart.

in Election, Local, Surrounding Counties

Webb Skipped Democrats’ Minnesota Event

Updated
Webb Jim 110706 (RG)

Former U.S Senator Jim Webb (D- Falls Church) skips the Democrats' summer meeting in Minneapolis.

in Local, Surrounding Counties

Teen Athlete On Mend After Accident

Spotsylvania County Sheriff's Patch

A high school athlete is recuperating from a two-vehicle collision in Spostylvania County.

in Local, Surrounding Counties

Pro Player No Longer Faces Felony Charge

Virginia Beach Seal

A professional football player is no longer facing a felony charge in Virginia Beach.

in Entertainment

‘Siri, can you give me a hint?’ Apple confirms September event

16-overlay14

The rumors are true: Apple will host an event Sept. 9 in San Francisco.