Coins And Carriages! Raising A Child Now Costs Over $300K In The U.S., Study Finds

Hawaii tops the list of states.

Amid reports of declining birth rates, new research shows the cost of raising a child in the U.S. has climbed to more than $300,000.

A new estimate from LendingTree puts the cost of raising a child in 2026 at $303,418, about $16,857 per year, marking the first time it has surpassed $300,000 and a roughly 2% increase from the previous year, CBS News reports. The estimate is based on typical expenses for a couple earning the U.S. median household income of about $100,000, factoring in tax benefits.

“The cost of raising a child for 18 years has climbed to more than $300,000, and that steady rise puts tremendous strain on Americans’ budgets,” said Matt Schulz, LendingTree’s chief consumer finance analyst, in a statement.

The analysis covers costs through age 18 and excludes college, where tuition averages around $38,000 per year, adding roughly $152,000 more to the cost of raising a child and putting them in college. The findings come as rising living costs continue to strain families.

A February poll found 77% of respondents say it’s harder to raise children today than in previous generations, while earlier research shows many parents were unprepared for the expenses, some even going into debt to cover child care and other costs.

The report highlights where costs are rising fastest, with expenses in Alaska, Kansas, and Montana jumping more than 20% year over year. Hawaii ranks as the most expensive state to raise a child, with projected costs reaching $412,661 in 2026, followed by Maryland and Massachusetts.

Still, there are signs of relief. Some child-related expenses have slowed, with infant care estimated at $17,264, down $572 from the previous year. The average cost of raising a child in the first five years has also dipped slightly to $29,325 annually.

New initiatives may ease future costs. New Mexico has launched the nation’s first universal, no-cost childcare program. At the same time, New York Mayor Zohran Mamdani has introduced a plan to provide free childcare for children under two. The impact of these programs is expected to show in future data.