While parents are still footing more than half of the bill, teens are picking up a bigger share at an average of 44% of prom costs.
West coast families are expecting tospend the most, at an average of $1,125, while Midwestern families will spend the least at an average $835, according to the survey. Meanwhile, Northeastern families will spend an average of $1,104, down nearly 30% from last year.
In a contrast to last year, lower income parents planned to spend less than higher-earners. Parents who earn less than $50,000 a year plan to spend an average of $733, compared to $1,151 for parents who make over $50,000.
Older parents also tend to be more frugal. Parents under the age of 40 plan to spend $1074, almost 30% more than parents over 40.
Are you a prom-going student (or a parent of one)? Or a business that caters to prom-goers? E-mail your prom spending stories email@example.com.