It cost $25,299 to raise a child from birth to age 18 in 1960. The amount rose to $226,920 last year. This may be one of the reasons many reasons Americans are having fewer children these days.
Adjusted for inflation, the 1960 sum equals about $192,497 compared to $235,996 in 2010, about a 22 percent increase. Neither number paints a complete picture. Median household income rose 25 percent between 1960 and 2010. The cost of raising a child is, in comparison to income over the 50-year period, up very modestly.
Because the data was not done on a national basis until 2010, we were advised by the United States Department of Agriculture, which has issued the report since 1960, to use the North Central/Midwest region as a proxy for the national average.
(AP Photo/Mark Humphrey)
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