Cost of Raising a Child Tops $26,000 Annually, St. Louis Sees Sharp Increase

Park Hills, Mo (KFMO) - Raising a child in the U.S. now costs more than $26,000 a year on average, according to a new study by SmartAsset.

The financial analysis looked at 48 of the country’s largest cities and calculated yearly expenses including food, childcare, healthcare, housing, and other necessities. The study found significant year-to-year changes in many areas. In St. Louis, the cost of raising a child has increased by more than 20% over the past year, highlighting how inflation and service costs are impacting families across Missouri and the nation.

Experts say families should expect continued fluctuations as economic conditions evolve, and they recommend budgeting and financial planning to prepare for rising costs.