Here’s What It Would Cost You To Raise a Family as Big as Elon Musk’s

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Elon Musk has often remarked about the upcoming population crisis. He has even warned that “civilization will disappear” if fertility rates don’t go up. 

Musk has certainly done his part to curb population declines. He’s the father of 14 children, spread across several partners. It’s easier to raise a large family with Musk’s wealth, but research from the Institute for Family Studies (IFS) crystalizes how much it costs to have 14 children. Here’s what you should know if you want to lead a large family or are curious about how much it costs to raise one.

The Average Cost of 1 Child

IFS pulled data from the U.S. Department of Agriculture to conclude that the cost of raising a child is $233,610. It’s more expensive to raise a child in the Northeast, where the average cost is $264,090. However, you can save money by raising your child in the Midwest, where the average cost comes to $227,400. 

However, these numbers are based on 2017 dollars. A dollar in 2017 had the same purchasing power as $1.30 in today’s money. 

Here’s how these numbers change when accounting for the purchasing power of the U.S. dollar in 2025:

• Average cost of raising a child nationally: $303,693
• Average cost of raising a child in the Northeast: $343,317
• Average cost of raising a child in the Midwest: $295,620

This average cost gets a child up to their 17th birthday, and does not include college. Using the average cost of $233,610 per child (from the 2017 data), the cost comes to $13,741.76 per year for 17 years. That’s $1,145.15 per month.

Here’s what the numbers look like after inflation:

• $17,864.29 per year for one child
• $1,388.70 per month for one child

If you want to raise a family as large as Musk’s family, the monthly costs soar to $13,741.80 per month. That’s $164,901.60 per year and $2,803,327.20 over 17 years.

Those costs are even more stunning when you account for inflation. The monthly costs jump to $17,864.34 per month and $214,372.08 per year. It comes to $3,644,325.36 over 17 years. 

Breaking Down Different Costs of Raising Children

The U.S. Department of Agriculture didn’t stop with sharing the average cost of raising a child. The study also includes how the money gets divided across different categories. Here’s how the study anticipates you will allocate money for each child:

• Food: 18%
• Housing: 29%
• Transportation: 15%
• Healthcare: 9%
• Clothing: 6%
• Child care and education: 16%
• Miscellaneous: 7%

Housing, transportation, healthcare and clothing all get cheaper per child as you have more of them. Your children will all occupy the same house, you will have the same vehicles to transport them and you can pass the older child’s clothing on to the younger child. You can also have all of your children under the same healthcare plan.

Your food bill, child care, education and miscellaneous costs will likely go up as you have more children. If you end up with a family as large as Musk’s, homeschooling may end up producing a solid ROI if one of the spouses is willing to forgo their salary.

However, the family can also consider a public school in their area if they have great options. Private schools will be much more expensive since you have to put more children through their doors.

You can also keep childcare costs low by having the older siblings look after the younger siblings from time to time. This format is much easier if one of the spouses is willing to homeschool. You can save on childcare costs and private school tuition if you prefer that route over public education.

It’s getting increasingly expensive to raise a family. Even without a family as large as Musk’s, you’ll likely have to advance in your career and potentially work a side hustle to make ends meet.

Sources

• Institute for Family Studies (IFS), “The True Cost of Raising a Child.”
• NPR, “They say they want Americans to have more babies. What’s beneath the surface?“

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