Families are spending big bucks on prom

Getty Images

A Visa survey finds on average, families expect to spend $1,139.00 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 percent of the prom bill, while teens cover about 40 percent.