Average Cost to Raise a Child on the Rise

A U.S. Department of Agriculture report out yesterday (August 14th) said that it will cost an estimated $241,080 for a middle-income couple to raise a child born last year for 18 years, up almost three percent from 2011. The estimate includes expenses for housing, food, transportation, clothing, health care, education and child care, as well as miscellaneous expenses like toys and computers, but not college costs. Since 2000, the cost of child care has increased twice as fast as the median income of families with children, according to Child Care Aware of America.