Average prom costs more than $1,000

(CNN) -- Prom season is upon us, and that means big spending.

A visa survey finds on average, families expect to spend $1,039  dollars on prom this year.

That's up about 40 percent from two years ago, but only a slight increase from last year.

Families in the northeast expect to pay the most, while midwestern families gave the most frugal estimate.

Visa surveyed more than 1,000 parents of prom-aged teens for the study.

The survey also found parents will foot about 60% of the prom bill, while teens cover about 40%.


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