(WASHINGTON) -- The cost of raising a kid is now more than $245,000, a new report out Monday finds.
From the time a child is born until he or she turns 18, the U.S. Department of Agriculture says that little bundle of joy, born in 2013, will cost parents $245,340 to raise. That amounts to roughly $13,600 a year.
The annual government report finds that raising a child in the urban Northeast costs more than the national average -- $282,480 -- while families in the South and rural regions of the U.S. can expect to pay less -- $230,610 and $193,590, respectively.
All these figures will increase with inflation. Compared to the USDA's "Expenditures on Children and Families" report in 2012, the national average is up 1.8 percent.
Copyright 2014 ABC News Radio