Total estimated cost to raise a child: $222,360

* Housing is the most expensive part of raising a kid. It accounts for 31 percent of the cost, followed by childcare and education (17 percent) and food (16 percent).

* The annual cost rises a bit as the child gets older — from less than $12,000 per year for a baby to more than $13,000 for a teenager.

* Among urban areas, the Northeast is the most expensive region to raise a child, and the South is the cheapest. Rural areas, which are lumped into a single category, are even cheaper.

* The cost per child for a two-child family is 25 percent lower than the cost per child for a one-child family.