Sticker shock: Cost of raising a child soars to nearly $300,000

The cost of raising a child in the U.S. has surged nearly 36% since 2023, with families now spending about $30,000 per year per kid, according to a new LendingTree analysis.

Over 18 years, that adds up to nearly $300,000 after tax exemptions and credits, and in states like Hawaii, Washington, Maryland and North Dakota, the figure can top $360,000.

Child care is a major driver of the uptick, with costs rising more than 50% in just the past two years. The expiration of pandemic-era federal aid has made things worse, leaving many child care centers and parents under mounting financial pressure, according to the LendingTree analysis.

But the burden doesn’t stop there. Food costs, LendingTree notes, have climbed nearly 30% since 2023 — while housing, health care, clothing and transportation continue to strain household budgets.

Even in lower-cost states, these combined expenses keep the overall price of parenthood stubbornly high. North Dakota, where child care is comparatively affordable, still ranks among the most expensive states for raising children — largely due to rising housing costs.

Many families are spending nearly 23% of their income on child-related costs to manage. At the same time, government support is shrinking: The value of federal tax credits dropped by more than 44% between 2023 and 2025, after the Biden administration’s expanded child tax credit expired.