UNDATED (WTVB)) - The cost of raising a child is continuing to climb. The U.S. Department of Agriculture says it will cost more than 234-thousand dollars for a middle-income family to care for a child until age 18.
The total comes close to 300-thousand dollars when it's adjusted for inflation and that doesn’t include college costs. The latest numbers show an increase of more than three percent from last year's figures. The agency cites hikes in the cost of child care, education, transportation and food in reporting its projection.
USDA figures show that the biggest chunk of change dropped on child-rearing is for housing, which accounts for almost one-third of the total. Families in cities in the Northeastern region of the nation spend the most to raise their kids. It's cheapest in cities in the South and in rural areas.