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.

Recent Headlines

in Sports

Thursday’s Sports Minute

angels

Here is a look at the sports headlines you'll be talking about today, Thursday, Sept. 18.

in National

California wildfires threaten thousands of homes

wildfire

Fire crews in the rugged Sierra Nevada region battled against a blaze that has displaced hundreds of residents.

in National, World

ISIS planned beheading of random person in Australia

police

Hundreds of police raided homes in a sweeping counter-terrorism operation after Australian officials uncovered a plot to behead a member of the public in Australia.

in National, World

House votes to arm Syrian rebels; Senate next

syria

The U.S. House approved Obama's plan to train and arm moderate Syrian rebels - now it's the Senate's turn.

in Sports

‘Second chance’ for Ray Rice not out of the question

rayrice

The star running back is hoping for the same type of second chance that other tarnished NFL stars like Michael Vick have received.