The U.S. Department of Agriculture releases its biennial Expenditures on Children by Families report which shows that the average cost of raising one child born in 2017 through the age of 17 will cost parents about $233K ($243.5K adjusted for inflation). That more than the average median home cost in the United States! Falling only behind housing as the biggest contributor to the cost of raising a child, childcare and education was nearly 16% of the total cost.
For just one child that adds up to a total of nearly $38K. Specialized childcare can cost even more as CNNMoney highlights that costs only climb as a child ages and reasons for spending increase. One of the biggest benefits of AuPairCare is that the cost to working parents, $19.5K annually, remains the same whether you have one or many children, live in an urban or rural environment, or reside in a traditionally expensive part of the country.
Discover more about the cost of raising a child including, most expensive regions and annual childcare costs by age range in USDA’s infographic below.