| Age of Child | Housing | Total |
|---|---|---|
| Before-tax income: Less than $59,410 (Average = $38,000) | ||
| 0 to 2 | 2,990 | 9,050 |
| 3 to 5 | 2,990 | 9,100 |
| 6 to 8 | 2,990 | 8,760 |
Also to know is, what is the average cost of raising a child 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.
Secondly, how much does a child cost until 18? Key Takeaways
On average, middle-income parents will spend $284,570 by the time a child turns 18. The largest expense is housing, followed by food. The cost of childcare varies widely and depends on where you live. The good news is that each additional child costs less, thanks to economies of scale.
Keeping this in consideration, what is the average cost of a child per year?
According to a USDA report, the average middle-income family spends between $12,000 and $14,000 on child-related expenses each year. For newborns, the cost is higher, where some studies show numbers ranging from $20,000 to $50,000 for the child's first year of life, depending on location and the household income.
What age is a child most expensive?
Parents spent an average of $12,680 a year on infants, while 15- to 17-year-olds cost $13,900 a year. “Teenagers are the most expensive,” said Mark Lino, an economist at the Agriculture Department's Center for Nutrition Policy and Promotion, and the report's lead author.
