Wealthiest Americans now have the largest family sizes, analysis finds

The richest families in the United States are now the most likely demographic group to have more than two children, according to the New York Post. The trend represents a major reversal of historical demographic patterns in the country. [1]

The New York Post reported that an analysis of the Federal Reserve’s Survey of Consumer Finances by the Economic Security Project found that about half of the top 1% richest Americans have three or more children. That is the highest portion of any income tax bracket. [1]

In comparison, 40% of all other United States households have three or more children, according to the Economic Security Project analysis cited by the New York Post. The report noted that raising a child in the United States costs an average of $300,000, not including college tuition costs. [1]

Because of these high financial costs, the New York Post noted that adding an extra child to a family could require years of saving for the median United States household. [1]