Cost of Living SPIKES: Costs to Raise a Child in the United States

In 2015, the United States Department of Agriculture estimated the Cost of Raising a Child born in 2015 was $233,610. If this figure was adjusted for inflation to 2024 dollars with the United States Bureau of Labor Statistics CPI Inflation Calculator it would be an estimated $308,289 to raise a child to age 18. However, because childcare costs have outpaced inflation, Credit News analyzed the most and least affordable metros to raise children, finding that the average (mean) costs to raise a child in America’s 100 most populous metros to age 18 rose to $22,989—or $413,810. Are you expecting a baby or planning to start a family soon? Do you know how much it really costs to raise a child in the United States? This video breaks down the estimated costs of raising a child from birth to age 18, including housing, food, childcare, education, healthcare, and more. Key Takeaways: 1. The average cost of raising a child in the US rose from $233,610 in 2015 to over $400,000 by 2025 2. Breakdown of costs by age and category 3. How to create a budget and plan for your child's future Watch now and get ready to plan for your family's financial future! #personalfinance #childcare #budget SOURCES CITED FOR THIS VIDEO IN ORDER OF APPEARANCE USDA: The Cost of Raising a Child (2015) https://www.usda.gov/media/blog/2017/... Credit News: The most and least affordable metros to raise children https://creditnews.com/research/the-m... Pew Research Center: Growing share of adults (47 percent) under 50 say they're unlikely to ever have kids https://www.pewresearch.org/social-tr... Fortune: If you thought rent was bad, child care now costs more than housing in all 50 states https://fortune.com/2024/05/16/child-... Childcare Aware of America: Child Care at a Standstill: Price and Landscape Analysis https://www.childcareaware.org/thechi... Investopedia: The American Dream Now Costs $3.4 Million https://www.investopedia.com/the-amer... Timestamps 00:00 Introduction 00:53 $413,810 Costs To Raise A Child In 2024 01:25 Half Of Americans Do Not Plan To Have Kids 01:40 Cost of Childcare In America 02:33 The American Dream Cost $3.4 Million