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Kids Are Expenseive

If you thought kids were expensive, you were right.

A child born in 2013 will cost a middle-income American family an average of over $245,000 to raise that child to 18.

That takes into account food, housing, childcare and education.

The USDA's annual report, based on the government's Consumer Expenditure Survey shows that a child born in 1960 cost about $198,000 in 2013 dollars, to raise to the age of 18.

For middle-income families, housing expenses made up roughly 30 percent of the total cost of raising a child.

Child care and education were the second-largest expenses, at 18 percent, followed by food at 16 percent.

The survey found that if you have more kids, the expenses per child decrease.