The U.S. Agriculture Department says the cost to raise a child to age 18 is $291,570. Reuters reports that this figure does not include the cost of childbirth or college.
The estimate covers food, shelter and other necessities for a child to age 18, said the annual report by the Agriculture Department. The figure does not include the cost of childbirth or college.
Housing accounts for one-third of expenditures on children. Food accounts for 16 percent, the same as child care and education, said the Expenditures on Children by Families report.
Last year, the USDA estimated it would cost $269,040 to raise a child born in 2007 to age 18, including inflation. The USDA has made the estimates since 1960, when the estimated cost was $25,300. The department said it planned to have an updated "Cost of Raising a Child Calculator" on the Internet soon.
The USDA's "Cost of Raising a Child Calculator" will be available here when it finally launches. The site says it is "coming soon."
