Report: It costs $241,080 to raise a child - abc27 WHTM

Report: It costs $241,080 to raise a child

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According to a new report released by the U.S. Department of Agriculture, a middle income couple can expect to pay $241,080 for a child born last year through the age of 18.

The figure includes cost for essentials like clothing and health care, as well as other items like clothing and electronics.

However, the estimate does not factor in the cost of college. The most expensive areas for parents are in the urban Northeast, the report says.

The kid cost figure is up 2.6 percent from 2011.

The increase comes at a time when the average income for families is also falling.

Some Midstate parents argued that the $241,080 estimate was too high. Others said it was too low. All said no matter the cost, it's a sound investment.

"Every penny we spend on our kids is money well spent," Patrick Hopkins from New Hampshire said.

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