Factoring in Princess Charlotte and the new royal baby, that brings the total cost to $3 million.
The average cost to raise one child in London is $354,000.
The cost of raising a princess and two princes is a bit heir-raising.
The Duke and Duchess of Cambridge have a combined net worth of $50 million — a portion of which will be spent on bringing Prince George, Princess Charlotte, and their third child, a son born on Monday and whose name has yet to be announced, to adulthood.
CNN reports that the cost of raising one child to age 21 in the UK is $323,000. In London specifically, that number increases to $354,000. With three children, that's a total cost of more than $1 million — and that's not counting private school or university tuition, which can tack on an additional $200,000 per child.
For the royal family, that number is much higher — they'll pay at least $1 million for Prince George alone, according to one estimate. Add in his siblings, and that number could easily exceed $3 million.
Here are a few of the costs they're likely to incur while raising three royal children:
Education: $19,492 tuition for Princess Charlotte's nursery school, $240,767 for Prince George's attendance through year eight at Thomas's Battersea in London, $55,772 tuition per year if Prince George attends Eton College like his father
Nannies: a minimum of between $36,493 and $58,552 for nanny Maria Teresa Turrion Borrallo, but most likely more
Clothing and Feeding: at least $200,000 per child, and $514.10 for Prince George's uniform with optional accessories
Maternity Care: a minimum of $24,910 for baby delivery at the Lindo Wing, $2,109 for antenatal care, and $25,500 for gynecologist consultations (all figures are totals based on the cost of all three royal babies)
Baby gear: $75 for one christening shawl used for all the royal children, at least $480 for infant carriers, a minimum of $4,000 for strollers and accessories, and at least $6,000 for three nurseries
Take a closer look below for a more specific breakdown of just how much it may cost to raise three royal children: