Costs Of Raising A Child Over $233,000

January 10, 2017

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Children are priceless but raising a kid cost the average family almost $14,000 annually.  The Department of Agriculture says the estimated cost of raising a child from birth through age 17 is $233,610. The main costs are housing, which are 26% to 33% of total expenses, 18% for food, transportation and health care and 16% for child care and education ( not including college) and single percentages for clothing, and other miscellaneous expenses. Those cost are higher in urban areas. Although costs are up about 3% from last year for families with two children, bigger families (those with 3 or more children), and the costs are down; about 24% per child. The USDA says that's because children often share bedrooms in bigger families, clothing and toys are handed down, and food can be purchased in larger and more economical packages. In contrast, one-child households spend an average of 27% more on the single child.

SOURCE: Newser/Associated Press

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