$254,340: Cost of raising a child born in 2013

“In today’s economy, it’s important to be prepared with as much information as possible when planning for the future,” Kevin Concannon, USDA’s food, nutrition and consumer services undersecretary, said in a statement.

The report found geographic variations in the cost of raising a child. They were the highest in the urban Northeast at $282,480, followed by the urban West at $261,330 and the urban Midwest at $240,570, which includes Iowa and South Dakota. The urban South came in the lowest at $230,610 for each child.

Child care costs have soared dramatically since the first report 53 years ago. Back then, a middle-income family could have expected to spend $25,230 ($198,560 in 2013 dollars) to raise a child until the age of 18. Housing was the top cost for parents back then, too.