How Much Does it Cost to Raise a Child in Indiana?

Kids are expensive! Do you think you can guess how much it actually costs to raise a child in Indiana?

As a father, I know that having kids can be stressful. Early morning wake-ups, sports, being their personal chauffeur, feeding them healthy meals that they won't toss on the floor to the dog, and the overall worry about your child's safety and well-being. It's a lot, not to mention the financial stress of having kids. I have three kids, ages 16, 12, and 1. I know firsthand how it feels to have to purchase diapers and formula and to be their personal Uber driver and ATM. No matter what their age, kids are expensive, but how much does raising a child actually cost in Indiana?

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How Much Does It Cost to Raise a Child?

When you think about everything that goes into raising a kid, childcare costs, healthcare, and the never-ending list of school fees and sports equipment, the expenses pile up fast. And that's not even counting the crazy amount of food they go through in a week. According to Consumer Affiars:

Nationally, the cost of raising a child is nearly $16,000 annually, and as costs for key basic needs, such as housing and food, have climbed in recent years, so too has the cost of child-rearing.

Here in Indiana, we are a little below the national average when it comes to the cost of raising a child. The Hoosier State ranks 25th with an annual cost of $14,758 to raise a child. I saw a different report from last year that put the cost closer to $22,000 per year. And honestly, I can’t imagine the cost went down since, you know, everything seems to be getting more expensive by the day. Sadly, that's just the cost of ONE child!

That's a lot of money! No wonder many Hoosiers have to take on multiple jobs. Now, while all of that can be stressful at times, being a parent is the best thing that I have ever done. I wouldn't trade it for anything in the world. At the end of the day, those kiddos are worth it. But are you surprised by how much it costs to raise a child in Indiana? Honestly, part of me feels like those numbers are a little low.