Chances are, you already know that it is expensive to raise a family in this day and age (though, was it ever inexpensive?).  How much does it cost to raise a child until adulthood in the United States?

It is hard to get a precise estimate due to the sheer number of variables to factor in.  One of the most cited studies, however, is one from the Brookings Institution done in 2022, which primarily sources their data from the U.S Department of Agriculture’s estimates from their 2017 report.  According to Brookings, the cost of raising a child for a middle-income, married family with two-children from birth through age 17 would be $310,605 ($338,281.13 in 2025 dollars).  Of course, this number can vary wildly given a family’s specific circumstances, such as the state or city a family lives in, special needs of their children, spending on private school, specific emergencies, etc.  

Other 3rd party analysis have attempted to break down what categories account for the most money spent on raising a child.  The general consensus is that the highest share of the cost for raising children can be derived from Housing, followed by Food, then Childcare, Transportation, Health Care and Miscellaneous (which includes clothing).

This article was written by an independent writer for Brewster Financial Planning LLC and is not intended as individualized legal or investment advice