# How much does it cost per week to raise a child?

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## How much does it cost to raise a kid in 2020?

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. The average amount spent on raising a child in the Urban West is \$245,460.

## How much does it cost to raise a child for its first year?

Your baby’s first year will cost roughly \$12,000. That includes diapers (estimated between \$70 and \$80 each month, according to the National Diaper Bank Network), food, clothing, furniture (a nursery costs about \$2,000, according to The Bump), routine out-of-pocket doctors’ expenses and child care.

## How much is it 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.

## How much money does a family of 4 need?

According to a recent Gallup survey, most American families believe a family of four would need at least \$58,000 per year to “get by” in their communities. That’s more than the median household income, which came in at \$55,775 a year in 2015.

## How much does it cost to raise a child monthly?

Of a family’s \$12,980 annual cost to raise a child, 29% is calculated to go toward housing alone. That’s \$3,764 per year in added housing costs per child, or \$314 per month.

## How much money should you make to raise a child?

The U.S. Department of Agriculture estimates that the average cost to raise a child who was born in 2015 through age 17 is \$233,610.

## How much it costs to raise a child?

In the US, the average cost of raising a child through the age of 17 is \$233,610. This figure is based on data compiled in the most recent Expenditures on Children by Families report completed by the United States Department of Agriculture (USDA).

## How much money does a family of 5 need?

Average monthly expenses for a family of 5:

\$6,780, or \$81,361 annually. Yes, we do note that a family of five has lower monthly expenses than a family of four, according to the BLS.

## How much does a child cost a month?

If you take into account an average annual inflation rate of 2.2 percent — as well as the fact that one-child households spend an average of 27 percent more on the single child — that \$12,680 could be over \$17,500 in a one-child, middle-income household in 2019, which equals out to almost \$1,500 a month. Whoa, baby.

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