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 Weird

Dallas woman accused in illegal butt injections surrenders

Needles

Dallas police say a woman accused of providing illegal buttocks injections has surrendered to authorities.

in Music

Iron Maiden frontman returns to public eye

In this photo made available on Sunday, Aug. 15, 2010, singer Bruce Dickinson performs during the concert of the English heavy metal band Iron Maiden at the Sziget (Island) Festival on the Shipyard Island in northern Budapest, Hungary, late Saturday, Aug. 14, 2010. The Island Festival is one of the biggest cultural events of Europe with an emphasis on music.

Iron Maiden's Bruce Dickinson makes his first public appearance since undergoing treatment for cancer.

in Entertainment, Weird

Balki’s bills: ‘Perfect Strangers’ star owes $280K in taxes, mortgage payments

pinchot

Bank officials say actor Bronson Pinchot hasn't been heard from in over a year.

in Music

Scott Stapp completes 90-day rehab stint

scottstapp

The Creed frontman has had a rocky couple of months but his bandmates say he's on the road to recovery.

in Music

Van Halen plan tour, live album

vanhalen

The band is back and ready to hit the road.