Cost of raising children up $8K from last year

SALT LAKE CITY — Raising children is not an easy process, particularly when the cost of raising children increase on a yearly basis.

A new report released by the USDA Thursday found the average middle-income family is expected to spend an estimated $234,900 ($295,560 with projected inflation factored in) to raise a child from birth through age seventeen. That is a 3.5 percent increase from estimated figures in 2010, which was $226,920.

The USDA reports a two-parent family is expected to spend anywhere from $12,290 to $14,320 on a child each year. The largest cost in caring for children is housing costs (30%), followed by child care and education (18%) and food expenditures (16%).

However, depending on a family's income, child-rearing figures vary. A family earning less than $59,410 per year will spend an estimated $169,080. Families whose parents' income is between $59,410 and $102,870 will spend $234,900, with families making more than $102,870 expected to spend $389,670.

The USDA did find, however, there is a benefit to raising more children. Families with more children can help to reduce overall expenses as children share bedrooms and utilize handed-down clothing from older siblings. Additionally, purchasing larger and more economical quantities of food helps drive down costs.

Families with three or more children spend an estimated 22 percent less per child than a family with two children, the USDA finds.

Since 1960, the cost to raise a child through age seventeen has increased approximately $43,180 with inflation rates factored in. In 1960, a middle-income family was expected to spend approximately $25,230 ($191,720 in 2011 dollars) to raise a child.

To see how much it will cost you annually to raise a child, go to www.cnpp.usda.gov.

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