Sunday, June 19, 2011

Cost for middle-income parents to raise child nears $230,000

American middle-income parents with a child born in 2010 can expect to spend $226,920 over the next 17 years, according to a report released on Friday.

For lower-income families, those earning less than $57,600 a year, parents can expect to spend a total of $163,440 through the time the child finishes high school. Families earning over $100,000 are more likely to spend around $377,000.

When the USDA first started to publish this report in 1960, middle-income families could expect to pay $185,856 in 2010 dollars.

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