Best answer: How much does the average child cost per year?

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How much does it cost to raise a child in 2020?

Cost of Children: Stats and Facts (Editor’s Pick)

The cost of raising a child until age 17 is \$233,610 on average. Low-income married couples spend \$174,690 on average to raise a child. Low-income single parents spend \$172,200 to raise a child from birth until age 17.

How much does the average child cost per month?

Parents, on average, spend a little over \$750 per child per month during the school year and an average of \$834 for summer child care, according to a May survey conducted by YouGov on behalf of Bankrate among nearly 3,500 adults, including roughly 700 parents with children under age 18.

How much does it cost to raise a child 2021?

That report hasn’t been undated since 2017, but at that time, it found the cost of raising a child born in 2015 was \$233,610. That assumes the child was born to a middle-income, married couple. When adjusted for inflation, the number jumps to \$267,233 in 2021 dollars, based on data from the Bureau of Labor Statistics.

What is the average cost of raising a child per year?

In its Expenditures on Children by Families report, the USDA puts the cost of raising a child from birth to age 18 at \$233,610 for a middle-income family (married with two kids) — around \$12,980 per year.

How much does it cost monthly to raise a child?

Single-Parent Family – USDA Average Spending per Child (not the basic cost of raising)

Age of Child Housing Total
Before-tax income: Less than 40,410 (Average = \$18,350)
0 to 2 2,840 7,760
3 to 5 2,840 8,610
6 to 8 2,840 8,450

How much does it cost to raise a child UK 2020?

In 2020, the additional basic cost of a child, from birth to age 18, was £71,611 for a couple family and £97,862 for a lone-parent family. If housing and childcare costs are added these rise to £152,747 and £185,413 respectively.

How much does it cost to raise a child in Australia 2020?

It found that the cost of raising two children would likely range from \$474,000 to \$1,097,000 over the course of their childhood. For one child, that’s an estimate of \$13,166 to \$30,472 every year or \$237,000 to \$548,500 over 18 years.

How much does it cost to raise a child in Canada 2021?

It should be no surprise that the cost of raising a child in Canada is expensive! It’s generally estimated that raising a child will cost you \$10,000 – \$15,000 a year until the age of 18 in Canada.

How much does it cost to raise a child in California 2021?

A study released this week by LendingTree found that it costs about \$24,000 per year to raise a child in California — the sixth most expensive place to raise a child in the country. The expanse that gags parents: infant daycare averages \$16,452.

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