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.

Latest Stories

in Albemarle County, Charlottesville City, Local, Surrounding Counties

County Students Score High On SAT’s

chalkboard school

Albemarle SAT scores are higher than both state and national figures.

in National, World

Shrinking U.S. trade gap shows economy’s underlying strength

trade

The U.S. trade deficit fell in July to its lowest level in five months as exports rose broadly, signaling underlying strength in the economy amid concerns about a global growth slowdown.

in Entertainment

Chris Evans makes ‘Marvel’-ous directoral debut

17-overlay6

The "Before We Go" director talks about pulling his film together and how being in the Marvel world makes it easier to get movies off the ground.

in National

Kentucky clerk jailed for denying same-sex marriage licenses

20-overlay2

The clerk has refused to issue licenses to any couples, gay or straight, since the U.S. Supreme Court in June ruled that same-sex couples have the right to marry under the U.S. Constitution, citing her beliefs as an Apostolic Christian.