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To raise a child born in 2013 to the age of 18, it will cost a middle-income couple just over $245,000, according to newly released estimates from the U.S. Department of Agriculture. That's up $4,260, or almost 2%, from the year before. Estimates can vary widely depending on where you live and how much you earn.
The report found geographic variations in the cost of raising a child. They were the highest in the urban Northeast at $282,480, followed by the urban West at $261,330 and the urban Midwest at $240,570, which includes Iowa and South Dakota.The urban South came in the lowest at $230,610 for each child.Child care costs have soared dramatically since the first report 53 years ago. Back then, a middle-income family could have expected to spend $25,230 ($198,560 in 2013 dollars) to raise a child until the age of 18.Housing was the top cost for parents back then, too.he urban South came in the lowest at $230,610 for each child. Child care costs have soared dramatically since the first report 53 years ago. Back then, a middle-income family could have expected to spend $25,230 ($198,560 in 2013 dollars) to raise a child until the age of 18.