Hong Life CalculatorsUnderstanding the cost of raising a child calculator — concept and principle
This calculator estimates the cost of having and raising a child from birth to a chosen age, based on the USDA estimate for a middle-income married-couple family in the US. It adjusts the 2015 figures for price rises since then and for your own spending level, adds out-of-pocket birth costs, and also projects the total with future inflation. Use it for family financial planning.
How it is calculated
- USDA yearly costs (2015 dollars): $12,680 at ages 0–2, $12,730 at 3–5, $12,350 at 6–8, $13,180 at 9–11, $13,030 at 12–14, $13,900 at 15–17 ($233,610 in total to age 17).
- Cost in year k (today's prices) = USDA cost × your spending level × (1 + price rise since 2015).
- Total = Σ yearly costs up to the chosen age + birth costs.
- Total with future price rises = Σ cost in year k × (1 + inflation)^k + birth costs.
College, lost earnings and parental leave are not included.
The principle
The USDA report allocates household spending, housing, food, transport, clothing, health care, child care and education, among family members to estimate what a child costs each year. Because the figures are in 2015 dollars, they are scaled by the CPI increase since then. Costs differ by income level and region; your spending level percentage lets you scale the middle-income estimate up or down. Adding expected inflation shows how much the same lifestyle will cost in future dollars.
Worked example
Default inputs: birth costs $2,854, spending 100%, price rise since 2015 32.3%, to age 18, future inflation 2.5%.
- Ages 0–2: 12,680 × 1.323 ≈ $16,776 a year; ages 15–17: 13,900 × 1.323 ≈ $18,390.
- Sum over 18 years: 233,610 × 1.323 ≈ $309,066.
- Total = 309,066 + 2,854 ≈ $311,920, about $1,444 a month.
- First year = 16,776 + 2,854 ≈ $19,630.
- With 2.5% future inflation each year, the total grows to about $388,707.
| Your spending vs the USDA middle-income estimate (%) | Total cost (today’s prices) |
|---|---|
| 25 | $80,121 |
| 50 | $157,387 |
| 75 | $234,654 |
| 100 | $311,920 |
| 125 | $389,187 |
| 150 | $466,453 |
| 200 | $620,986 |
How to read the result
The total is a long-run average; actual spending is lumpy, with child care often the largest early cost and food and transport rising in the teenage years. Housing is a large share in the USDA method, so families who do not move may spend less. Use the yearly figures for budgeting and the inflated total for long-term planning.
Common mistakes
- Treating a US average as a forecast for another country.
- Forgetting that the estimate excludes college and lost income.
- Assuming the cost is spread evenly across all years.
Frequently asked questions
How much does it cost to raise a child in the US?
The USDA estimate for a middle-income married couple was $233,610 in 2015 dollars to age 17; in today's prices that is about $309,000 at a 32.3% price rise.
Does the estimate include college?
No. College costs are not included.
Can I use it for Korea?
Only as a rough illustration; Korean costs follow different patterns, so use local data where available.
Sources: Lino et al., "Expenditures on Children by Families, 2015", USDA Center for Nutrition Policy and Promotion, Misc. Report No. 1528-2015 (Jan 2017) · Peterson-KFF Health System Tracker, "Health costs associated with pregnancy, childbirth, and postpartum care" (2022)