The United States Department of Agriculture estimated the cost of raising a child born in 2015 to be $233,610. If this figure were adjusted for inflation to 2024 dollars with the United States Bureau of Labor Statistics CPI Inflation Calculator the cost to raise a child to age 18 would have grown to an estimated $308,289. Because childcare costs have outpaced inflation, Credit News analyzed the 100 most and least affordable metros to raise children. Credit News study found here is how much it costs to raise a child in 2024. The average (mean) annual cost of raising a child born in 2024 to the age of 18 across America’s 100 most populous metros is $22,989—or $413,810.
Figure: The Cost To Raise A Child Born In 2024
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