It’s no secret that raising a child is expensive. Now, there’s government data that tells us just how expensive — in striking detail. From birth through seventeen years of age, parents can expect to spend an average of $205,960 to $475,680, depending on their household income.
You may not be surprised that the largest expense for a parent is housing — and that has been the case for the last five decades. How much more can you expect to spend on your mortgage or rent once your first bundle of joy arrives?
Take a look at our infographic, where we break down the cost of moving to a house with one additional bedroom (even including the added cost of utilities for that bedroom) by region and income level, along with many other interesting details.