Child Care Costs More Than Rent in the 100 Largest US Metros
Child Care Cost Overview
According to a recent report from LendingTree, child care for two kids now costs more than rent in the largest US metros. The average monthly cost for full-time care is $2,182, which is a staggering 39.4% higher than the average rent of $1,566 for a two-bedroom unit.
Rising Cost Ratios
In some cities, families can face costs that exceed the average rent significantly. For instance, Springfield, Massachusetts tops the list with a child-care-to-rent ratio of 136%, where the monthly care fee stands at $3,241.
- Syracuse, NY: 131%
- Buffalo, NY: 125%
- Spokane, WA: 116%
- Bakersfield, CA: 109%
Families Forced to Choose
The financial strain is evident, as many parents must decide between returning to work or expanding their family. In fact, 91 out of 100 studied metros indicate that child care expenses outpace rent.
Cost Breakdown by Metro
Washington, D.C. leads with the highest monthly child care costs at $3,773. In contrast, Miami offers the lowest costs at $1,982, which still surpasses the local rent.
- Washington, DC: $3,773
- Boston, MA: $3,648
- Worcester, MA: $3,424
- Springfield, MA: $3,241
- New York, NY: $3,151
- Minneapolis, MN: $3,131
- Seattle, WA: $3,114
- Poughkeepsie, NY: $3,067
- Honolulu, HI: $3,035
- San Francisco, CA: $2,964
Conversely, the five metros with the lowest costs are:
- Jackson, MS: $1,337
- Greenville, SC: $1,433
- Columbia, SC: $1,439
- Little Rock, AR: $1,467
- Birmingham, AL: $1,468
Final Thoughts
As data indicates, the cost of child care substantially impacts families, urging a reassessment of financial strategies and policies regarding child care accessibility.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.