There are many different types and brands of baby formula on the market today. There are organic formulas, soy formulas, and specialty formulas with additives which address particular health concerns. Brand-name formulas cost more than generic store brands, but are not necessarily better: the FDA requires all formulas to contain the same amount of nutrients. Formula for your baby can be purchased for on average 10 cents an ounce. Considering how much formula your child will consume, budget to spend between $1000 and $1500 per year.