Raising a Child Now Costs About $303,000: Study

The child tax credit increase in the One Big Beautiful Bill Act helped lessen the impact of higher costs in rent and clothing by $200.

Children draw in a classroom at the Children's Promise Centers child care center in Albuquerque, N.M., April 5, 2024. Susan Montoya Bryan/AP Photo

Parents who start raising a child in 2026 will spend around $303,418 from birth to 18 years old, according to a study published April 6 by Lending Tree. The cost increased 1.9 percent from last year.

The average annual cost works out to about $16,857 over 18 years, pushing this year’s estimate over $300,000 for the first time since Lending Tree began calculating it in 2023, the online loan marketplace reported.