A recent report in the Atlanta Journal-Constitution, estimated that the average cost of prom is a little over $1000 per teen. What was even more surprising is that families earning less than $30k per year were reporting they planned on spending close to $2,635 (9% of their annual income on prom)
Here is the article: http://www.ajc.com/lifestyle/average-prom-cost-tops-1418698.html
Do you have teens that are attending prom this year or did you have teens attending in the last few? Do you find these estimates to be accurate?