A new report from LendingTree puts a number to what so many families have been feeling in real time.
In 2026, the cost of raising a child from birth through age 18 has climbed to an estimated $303,418, even after tax credits. That is a slight bump from last year, but zoom out, and the shift is harder to ignore: Since 2023, that number has jumped by nearly 28%.
According to the new report, families are spending an average of $16,857 a year per child, a number that reflects the layering of everyday life.
LendingTree reports that for many families, day care remains the single biggest expense in the early years, often topping $17,000 annually.
Food costs are another piece of the puzzle.
The price of parenting varies widely by ZIP code.
In Hawaii, families are looking at a total cost of more than $412,000 over 18 years, more than double the cost of raising a child in some states.
States like Alaska, Maryland, California and New Jersey are not far behind, all hovering around or above the $300,000 mark.
On the other end, places like New Hampshire and Mississippi come in significantly lower, closer to $200,000 total.
One of the more sobering — and likely relatable — takeaways from the report is how much of a family’s income is going toward raising young kids.
In the first five years alone, parents spend about 22% of their income on basic expenses related to their child. In some places, it is even higher. Families in Hawaii are spending more than a quarter of what they earn just to cover those early years.