Many companies featured on Money advertise with us. Opinions are our own, but compensation and
in-depth research determine where and how companies may appear. Learn more about how we make money.

Advertiser Disclosure

The purpose of this disclosure is to explain how we make money without charging you for our content.

Our mission is to help people at any stage of life make smart financial decisions through research, reporting, reviews, recommendations, and tools.

Earning your trust is essential to our success, and we believe transparency is critical to creating that trust. To that end, you should know that many or all of the companies featured here are partners who advertise with us.

Our content is free because our partners pay us a referral fee if you click on links or call any of the phone numbers on our site. If you choose to interact with the content on our site, we will likely receive compensation. If you don't, we will not be compensated. Ultimately the choice is yours.

Opinions are our own and our editors and staff writers are instructed to maintain editorial integrity, but compensation along with in-depth research will determine where, how, and in what order they appear on the page.

To find out more about our editorial process and how we make money, click here.

By Mahita Gajanan
January 9, 2017

The cost of raising a child has increased in the last year, according to a report from the Department of Agriculture.

For a middle-income family to raise a child born in 2015 through the age of 17, the cost of rearing a child has hit $233,610, according to the report. The price jump is a 3% increase from the previous year, according to the report, with housing taking up a bulk of the expense at 29% of the cost. Food took the second biggest expense at 18%, according to the report.

The report, which tracks seven categories of family spending, including housing, transportation and clothing, helps court systems and government agencies determine the costs of child-support. The report does not track payments for college or financial contributions from non-parental sources, including government aid, Bloomberg reported.

The increase this year falls below the historic average annual increase of 4.3%, according to Bloomberg. Transportation expenses, driving in particular, have fallen due to lower projected energy costs. Among upper-income families, costs for childcare and education have increased.

The report classifies middle-class families as having a before-tax income of $59,200 to $107,000. Families with lower incomes are expected to spend $174,690, while families with higher incomes will likely spend $372,210.

Advertiser Disclosure

The purpose of this disclosure is to explain how we make money without charging you for our content.

Our mission is to help people at any stage of life make smart financial decisions through research, reporting, reviews, recommendations, and tools.

Earning your trust is essential to our success, and we believe transparency is critical to creating that trust. To that end, you should know that many or all of the companies featured here are partners who advertise with us.

Our content is free because our partners pay us a referral fee if you click on links or call any of the phone numbers on our site. If you choose to interact with the content on our site, we will likely receive compensation. If you don't, we will not be compensated. Ultimately the choice is yours.

Opinions are our own and our editors and staff writers are instructed to maintain editorial integrity, but compensation along with in-depth research will determine where, how, and in what order they appear on the page.

To find out more about our editorial process and how we make money, click here.

EDIT POST