Start a Family

Across the United States, annual child-rearing expense estimates ranged between $12,350 and $13,900 per child in a two-child, married couple family in the middle-income group (before-tax income between $59,200 and $107,400) on average. High income earners are spending closer to $500,000.

Expenses include…

Housing

Food

Transportation

Health Care

Clothing

Child Care

Education

Miscellaneous

…but don’t forget college!

Source: USDA 2015 Expenditures on Children by Families report, published in 2017

Cost of College

For 2017-2018, the College Board found that tuition, fees, and room and board cost students between $20k and $45k per year (on average) for public in state and private, respectively. This had increased about 3 percent from the previous year.

A child born in 2018, who goes to college starting in 2037 (at age 18) will be spending $150k or $345k respectively, over the course of four years.

Start Year Public Private
2018 $20,770.00 $46,950.00
2019 $21,393.10 $48,358.50
2020 $22,034.89 $49,809.26
2021 $22,695.94 $51,303.53
2022 $23,376.82 $52,842.64
2023 $24,078.12 $54,427.92
2024 $24,800.47 $56,060.76
2025 $25,544.48 $57,742.58
2026 $26,310.81 $59,474.86
2027 $27,100.14 $61,259.10
2028 $27,913.14 $63,096.87
2029 $28,750.54 $64,989.78
2030 $29,613.05 $66,939.47
2031 $30,501.45 $68,947.66
2032 $31,416.49 $71,016.09
2033 $32,358.98 $73,146.57
2034 $33,329.75 $75,340.97
2035 $34,329.65 $77,601.20
2036 $35,359.53 $79,929.23
2037 $36,420.32 $82,327.11
2038 $37,512.93 $84,796.92
2039 $38,638.32 $87,340.83
2040 $39,797.47 $89,961.06
$152,369 $344,425.90