Raising a child now costs over $300,000

For American parents, the financial burden of raising a child just hit a staggering milestone.

Cost of raising a kid tops $303,000 for the first time

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 eclipsed the $300,000 mark since LendingTree began tracking the figure in 2023.

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. But even with these breaks, the total cost to raise a child from birth through high school graduation represents a major expense, given that the median household income in 2024 was $83,730.

The price tag for child-rearing now approaches the median sales price of a home in the U.S., which was $356,000 as of January 31, according to Zillow.

LendingTree estimates it costs an average of $29,325 per year to raise a child in the first five years, down 0.3%. However, the total cost to raise a child from birth through high school graduation is a different story.

Some states are more expensive than others, with Hawaii topping the list at $412,661 in 2026. On the flip side, Alaska, Kansas and Montana saw a jump of more than 20% from the previous year.

Yet even amid these rising costs, there are some bright spots. Infant child care, for example, is estimated to cost $17,264 in 2026, $572 less than a year ago. Still, the financial strain of parenthood remains significant.