Parenthood is the scariest hood you’ll go through, so some are avoiding the neighborhood altogether. According to a new report from the Organisation for Economic Co-operation and Development (OECD), fertility rates have dropped from 3.3 children per woman in 1960 to 1.5 in 2022. This is far below the replacement rate of 2.1, needed to maintain the population without migration. Except for Denmark, fertility rates have fallen across all OECD countries since 1980. And women are having children later — and in many cases, not at all.

• Between 1980-2022, the average age at childbirth rose from 27 to 30.9.
• The percentage of women remaining childless “increased markedly,” with Italy, Spain, and Japan seeing their rates double between the 1955 and 1975 cohorts.

Choice or circumstance? The decline in fertility rates has coincided with a dramatic rise in the cost of raising children in recent years, from when they enter the nest to when they leave. Daycare costs have jumped nearly 36% over the last ten years, outpacing inflation. According to the Federal Reserve Bank of St. Louis, education costs have also risen faster than the Consumer Price Index for decades. And even when they leave the nest, if ever, 59% of young adults are receiving financial help from their parents, according to Pew Research — while the share of young adults aged 20-29 living with their parents has also increased from 45% to 50%.