News

Report: Cost to raise today’s child tops $245,000

Report: Cost to raise today’s child tops $245,000

PAYING FOR BABY: The USDA's report was first issued in 1960, when a middle-income family spent about $25,230 per child. That's about $198,000 in 2013 dollars. Photo: clipart.com

WASHINGTON (AP) — A federal report finds that an American child born last year will cost a middle-income family an average of more than $245,000 until he or she becomes an adult.

The Agriculture Department’s report found that families in the urban Northeast tend to pay more on average than the rest of the nation. The costs of food, housing, childcare and education have risen 1.8 percent since 2012.

The USDA’s report was first issued in 1960, when a middle-income family spent about $25,230 per child. That’s about $198,000 in 2013 dollars.

Housing expenses made up 30 percent of the cost, followed by childcare, education and food. The report didn’t factor in expenses after a child turned 18, such as college tuition.

Local Headlines

in Local

Federal Fugitives Being Sought

Al Sharairei s

Two federal fugitives are being sought in an Iowa court non appearance...

in Local

CHI West Okoboji Apartments Remodeled

chiapart

There are 1,2, and 3 bedroom options available for $595, $495 and $386...

in Local

Lake Park Field Fire

fireback

Firefighters remained on scene for over an hour Tuesday...

in Local

Sheldon Man Arrested For Burglaries

News Arrest1240 1

Sheldon Police recently seized numerous items from the home of 27-year-old Travis Staab...

in Local

Spencer Council Approves Home Base Iowa Agreement

News CitySpencer1240

A meeting is set for November 20th from 11-12 at the municipal golf course...