What’s the REAL Cost of Raising a Child in Michigan?

Did you factor back to school supplies in there too?

Household budgets are feeling the strain as children across Michigan prepare to head back to school. Between supplies, lunches, extracurriculars, and healthcare-- what's the real cost of raising a child here in Michigan?

Get our free mobile app

I mean, can you put a price on time and sanity?

As a child-free individual I will be sound asleep on the first day of school while families are scrambling to get out the door and into the hellacious drop-off line. Seriously, you couldn't pay me enough to deal with school drop-off/pickup.

But, what about the actual dollars and cents? How does the average cost of raising a child in The Mitten compare to the rest of the country?

Not surprisingly, loan company Lending Tree has found the cost of raising a child to trend upward having raised nearly 20% between the years of 2016-2021. The study found that on the national level families are expected to spend $237,482 to raise a child over 18 years.

Matt Schulz, LendingTree chief credit analyst says,

there is so much that goes into providing even the basics for that little person, [unfortunately] Those things you need aren’t getting any cheaper these days

The study analyzed key factors such as rent, food, childcare costs, health insurance premiums, in addition to transportation and state tax exemptions and credits to find it costs Michigan families approximately $174,440 to provide essentials for a child for 18 years.

Again, that's just the essentials; what about college application fees, extracurriculars like travel sports, and the cost of drivers education?

Just typing that all out made my wallet hurt.

Now that we know the cost my question now is how are Michigan families affording kids?