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Young African Boy leaving for school, Cape Town, South Africa

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You’ve heard the saying… “it’s expensive to raise a child.”  Well, the price of doing so has gone up.  How much?

According to economists in the USDA’s Center for Nutrition Policy and Promotion annual report, the average cost to raise a child born in 2015 until the child’s 18th birthday is predicted to be around $233,610, though it varies depending on household size, family situation, income level and even the part of the country where one lives. And that’s not counting the cost of college.

That cost marks a 3 percent increase from 2014. In that one-year period, the cost of everything but transportation went up. The cost back in 1960 (in 2015 dollars) was just $202,020.