AGRIBUSINESS: It Can Cost More Than $250,000 To Raise One Child

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Data pix.

A child born in 2013 will cost a middle-income family around $245,340 ($304,480 adjusted for projected inflation) according to a USDA report released mid-August. The numbers are 1.8 % up from 2012.

The costs are lower in the urban South ($230,610) and rural ($193,590) regions. Families in the urban Northeast have higher than average costs ($282,480).

Family income also changes the annual costs. Family earning less than $61,530 per year can expect to spend around $176,550. Families earning more than $105,540 can expect to spend $407,820.

Housing is the largest cost, about 30 percent of the total, followed by child care, education, then food.

It gets less expensive per child when families have more children. With three or more kids it costs 22 percent less than families with two children.

The first report in 1960 put the cost to raise a child at $25,000, which is around $200,000 in 2013 dollars

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