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.

Recent Headlines

in Trending, Viral Videos

TODAY’S MUST SEE: Teacher’s ‘Uptown Funk’ dance gets an A+

Fresh
21-overlay2

A theatre teacher at a Dallas high school proves he - and his students - have got some serious moves.

in Weird

‘Zombie’ or miracle, cat claws his way back from the dead

Fresh
zombiecat

A cat in Florida surfaced five days after he was hit by a car and buried for dead.

in Weird

Police: Man goes out on a limb to hide drugs

cocaineleg

Police say a man hid a stash of cocaine inside his prosthetic leg.

in Music

Tom DeLonge confirms he has quit Blink-182

tomdelonge

The rocker has confirmed he's no longer with the band less than 24 hours after insisting he hadn't quit.

in Entertainment, Sports, Viral Videos

WATCH: History’s most talked about Super Bowl commercials

This image provided by Snickers actress Betty White in an advertisement for Snickers to air during the 2010 Super Bowl. White has been voted the Entertainer of the Year by members of The Associated Press.

We've rounded up the thirteen most memorable Super Bowl commercials. Which one is your favorite?