More parents having fewer kids due to rising costs, survey reveals

Watch: Trump's answer on fixing child care crisis

At an Economic Club of New York forum, Donald Trump was asked what he would do about the child care crisis. Economists and activists later called his answer an "incoherent word salad" and "incomprehensible at best.'

Raising children has always come with a significant price tag, but for many families, that cost is now reaching a breaking point. 

A new survey released by LendingTree finds that an overwhelming majority of parents say the financial burden of parenting has increased sharply in the past year – and it’s already reshaping how families plan their futures.

Majority of parents say raising kids has become more expensive

By the numbers:

According to the survey, 82% of parents with children under 18 said raising kids has become more expensive over the past year, with more than half (54%) strongly agreeing. 

The survey found that 44% of parents are having fewer children than they originally intended. (Credit: Getty Images)

Parents reported spending heavily on their children, with more than half (55%) saying they spend at least $1,000 per month on child-related expenses. For many, that spending comes at a cost: nearly two-thirds (64%) said they’ve gone into debt to cover those expenses.

44% of parents having fewer children

Dig deeper:

Meanwhile, 44% of parents also reported having fewer children than they originally intended because they simply cannot afford more.

However, family sizes are relatively modest for most, with 41% of parents having two children and 37% having one. Five percent of parents have four children, and 3% have five or more.

In addition, parents overwhelmingly said money would make parenting easier. 9 in 10 (90%) parents said being a parent would be easier if they had more money. 

Financial strain worsens among parents

Big picture view:

The survey, conducted online last month among more than 600 U.S. parents, underscores how widespread the financial strain has become. 

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Another study, published earlier this month, determined that the early years of a child’s life cost more now in a majority of states this year. 

From 2025 to 2026, 39 states saw an increase in how much it costs to raise a child in the first five years of his or her life. 

In fact, 14 states saw a year-over-year increase of at least 10% – and costs spiked by more than 20% in at least four states.