To Raise A Child In 2022, It Costs A Hair-Raising $310,605
That's $80,000 more than the estimate released five years ago. The Brookings Institution analysis is based on a middle-income, two-parent, married family with two kids, and it doesn't include the cost of college.
The Wall Street Journal:
It Now Costs $300,000 To Raise A Child
The cost of raising a child through high school has risen to more than $300,000 because of inflation that is running close to a four-decade high, according to a Brookings Institution estimate. It determined that a married, middle-income couple with two children would spend $310,605—or an average of $18,271 a year—to raise their younger child born in 2015 through age 17. The calculation uses an earlier government estimate as a baseline, with adjustments for inflation trends. (Torchinsky, 8/19)
The Hill:
New Estimate Projects Cost Of Raising A Child At $310K
The figure is roughly $80,000 more than the estimate USDA released in 2017, when it calculated the average child-rearing costs for a middle-income, married couple with a child born in the same year. ... The new estimate only crunches numbers for middle-income, married parents, and doesn’t include projections for single parent households, or consider how race factors into cost challenges. (Folley, 8/19)
In other news about parenthood and fertility —
AP:
DC's Pioneering 'Baby Bonds' Plan Aims To Narrow Wealth Gap
A landmark social program being pioneered in Washington called “Baby Bonds” will provide children of the city’s poorest families with up to $25,000 when they reach adulthood. The money is to be used for a handful of purposes, including education. (Khalil, 8/21)
CNN:
Lengthening Fertility May Extend A Woman's Life
The age of menopause is tied to longevity. The average age of natural menopause in the United States is 51, according to the North American Menopause Society. (LaMotte, 8/21)
