What is the average cost for raising 1 child for a year?

In the US, the average cost of raising a child through the age of 17 is $233,610. This figure is based on data compiled in the most recent Expenditures on Children by Families report completed by the United States Department of Agriculture (USDA).

What does it cost to raise a child in 2021?

That report hasn’t been undated since 2017, but at that time, it found the cost of raising a child born in 2015 was $233,610. That assumes the child was born to a middle-income, married couple. When adjusted for inflation, the number jumps to $267,233 in 2021 dollars, based on data from the Bureau of Labor Statistics.

How much on average does it cost to raise a child?

On average, middle-income parents will spend $284,570 by the time a child turns 18. The largest expense is housing, followed by food. The cost of childcare varies widely and depends on where you live. The good news is that each additional child costs less, thanks to economies of scale.

How much does it take to raise a family of 4?

The Family Budget Calculator estimates that family of four will pay $1,663 a month for housing, $830 for food, $1,223 for child care, $1,159 for transportation, $795 for health care, $1,006 for other necessities and $1,016 for taxes.

How much does it cost to raise a child in Texas 2021?

The Texas CORC model estimates costs for single-parent and married-parent households, and importantly, across two households and finds that the average annual cost of raising a child across two households ($13,465) is higher than that for both single-parent ($10,616) and married-parent families ($11,004).

How much does a family of 4 cost per year?

Average monthly expenses for a family of 4: $7,095, or $85,139 annually.

How much does it cost to raise a child monthly Philippines?

What is the Estimated Monthly Cost of Raising a Child in the Philippines? Considering all the factors mentioned above, raising a child in the Philippines from birth until the legal age of 18 requires at least PHP10,000 each month or PHP 120,000 a year.

What is the cost of raising a child in Texas?