Cost of Raising A Baby Born in 2011? $295,000
(CNN) – The cost of raising an American child has reached an all-time high, according to the newest annual Agriculture Department report. Middle-income parents raising a child born in 2011 can expect to spend nearly $235,000 dollars over the next 17 years.
That’s three-and-a-half percent higher than in 2010.
And including projected inflation, the USDA says the real number could be more than $295,000.
Among other things, the lofty price tag includes housing, child care, education and food.
But it doesn’t include post-high school education.
The USDA has issued this report each year since 1960 to help courts and state governments determine child support and foster care payments.
In 1960, the estimated cost was only 12-to-14 thousand per child.