These couples wanted to have children. Rising costs are stopping them

A growing body of research and survey data confirms what many young adults already know from experience: the cost of living has become a significant barrier to having children, with couples who want families increasingly unable to afford them.

A new survey from the Pew Research Center found that 38% of non-parents ages 18-49 cite financial concerns as a reason they are unlikely to have children, up from 28% just five years ago. The numbers are even starker among adults under 30, where 44% say they can't afford to become parents. The median cost of raising a child in the United States now exceeds $310,000 through age 17, according to the USDA — and that figure doesn't include college, which adds another $100,000 to $300,000 depending on the institution.

Housing is the single biggest factor. The median home price has risen 50% since 2019, while mortgage rates have more than doubled, pushing the monthly payment on a median-priced home from roughly $1,400 to over $2,800. For young adults already struggling with student loan payments and entry-level wages, the math of parenthood simply doesn't work.

Childcare costs compound the problem. The average annual cost of daycare for one infant ranges from $6,500 in Mississippi to over $20,000 in Massachusetts. In most states, childcare costs more than in-state college tuition. For families with two children in daycare, the expense can exceed their mortgage payment.

The economic implications extend beyond individual families. The U.S. birth rate has fallen to 1.62 births per woman — well below the 2.1 replacement level needed to maintain a stable population. Without immigration, the U.S. population would be shrinking, with consequences for Social Security solvency, labor force participation, and economic growth.

What This Means For You: If you're one of the millions of Americans delaying or forgoing children because of costs, you're not alone, and the problem isn't personal financial mismanagement — it's structural. Housing, childcare, and healthcare costs have risen far faster than wages, and policy solutions (expanded child tax credits, subsidized childcare, housing reform) are stalled in political gridlock. If you are planning a family, the most important financial moves are: maximize tax-advantaged accounts (HSA for medical costs, 529 for education), negotiate childcare costs early (employer FSA, shared nannies, in-home daycare), and consider location carefully — the cost differential between states can exceed $100,000 over a child's lifetime.