The Cost of Raising a Child Tops $300K, and Child Care Is a Major Driver

A new analysis from LendingTree finds the cost of raising a child in the U.S. now exceeds $300,000 over 18 years, highlighting the enormous financial pressure families face — particularly in the early years when child care costs are highest.

• Raising a child now costs $303,418 over 18 years, averaging $16,857 per year for a middle-income family.
• The first five years are by far the most expensive, costing families about $29,325 per year on average.
• Infant child care alone averages $17,264 annually, making it one of the single largest expenses families face.
• Even with a slight recent dip, child care costs have surged 46.9% since 2021, far outpacing many other child-rearing costs.
• Families spend nearly 22% of their income on the basic costs of raising a young child.

From FFYF’s Sarah Rittling: “Child care costs stretch household budgets to the breaking point. When the early years of raising a child are also the most expensive, it puts enormous pressure on parents who are trying to work and support their families. Congress has an opportunity to ease that burden by strengthening federal child care investments so more families can afford the care they need.”

What’s Next: Congress can prioritize protecting and strengthening federal child care funding in the appropriations process so more families can afford care and providers can continue serving their communities. Learn more here.