Raising a child now costs over $300,000, analysis finds

Americans are on the hook for a staggering $303,418 to raise a child from birth to 18, according to a new estimate from LendingTree. That's up 2% from last year and marks the first time the total has topped $300,000 since the analysis began in 2023.

Costs vary by state, too

The cost of child-rearing varies significantly by location, with Alaska, Kansas, and Montana seeing a jump of over 20% from a year ago. Parents in Hawaii face the steepest bill, at an estimated $412,661 in 2026.

The study, which used 2024 data from the U.S. Census Bureau and other sources, calculated typical expenses for a couple earning the median family income of about $100,000, factoring in tax offsets. However, the analysis ends when a child turns 18, so it does not include the potentially massive costs of college, which averages around $38,000 a year.

The total price tag of $303,418 works out to an average of $16,857 per year. That's a significant burden, especially when compared to the median household income of $83,730 in 2024 and the national median home price of $356,000 as of January 31, according to Zillow.

Chief Consumer Finance Analyst Matt Schulz warns,