Average cost to raise a child now tops $300,000, study finds

MoneyWatch Raising a child now costs over $300,000 in the U.S., study finds. See how your state compares. .chip { background-image: url('/fly/bundles/cbsnewscore/images/chip-bgd/chip-bgd-moneywatch.jpg'); } By Mary Cunningham Mary Cunningham Reporter, MoneyWatch Mary Cunningham is a reporter for CBS MoneyWatch. She previously worked at "60 Minutes," CBSNews.com and CBS News 24/7 as part of the CBS News Associate Program. Read Full Bio Mary Cunningham April 7, 2026 / 4:33 PM EDT / CBS News Add CBS News on Google Raising a child comes with a long list of expenses, from child care to additional groceries. But how much does that add up to over 18 years?A new estimate from LendingTree puts the price tag at $303,418 for 2026, or an average of $16,857 per year. It's the first time the figure has topped $300,000 since LendingTree began the analysis in 2023 and is up about 2% from a year earlier.The calculation is based on the typical expenses for a couple earning the U.S. median family income, about $100,000, while accounting for offsets from tax incentives. Because the analysis ends when a child turns 18, it does not include the cost of college, another major expense for parents.With the average cost of a U.S. college education at about $38,000 a year, that could add another $152,000 to the total.American families are feeling the financial strain of raising children, with a CBS News poll in February finding that 77% of respondents believe it is harder to raise a family today than it was for previous generations. A previous LendingTree study found many parents were unprepared for the added costs, with some going into debt to pay for child care and other expenses."The cost of raising a child for 18 years has climbed to more than $300,000, and that steady rise puts tremendous strain on Americans' budgets," said Matt Schulz, LendingTree's chief consumer finance analyst, in a statement.As with most expenses, location matters. Costs in three states — Alaska,...