Thursday, 16 June 2011
The Department of Agriculture today released its annual report, Expenditures on Children by Families, finding that a middle-income family with a child born in 2010 can expect to spend about $226,920 ($286,860 if projected inflation costs are factored in) for food, shelter, and other necessities to raise that child over the next 17 years. This represents a 2 percent increase from 2009. Expenses for transportation, child care, education, and health care saw the largest percentage increases related to child rearing from 2009. There were very small changes in housing, food, clothing, and miscellaneous expenses on a child since 2009.
The report, issued annually since 1960, is a valuable resource for courts and state governments in determining child support guidelines and foster care payments. It is based on data from the Federal government's Consumer Expenditure Survey, the most comprehensive source of information available on household expenditures. For the year 2010, per child annual child-rearing expenses for a middle-income, two-parent family range from $11,880 to $13,830, depending on the age of the child.