In a recent study conducted by LendingTree, it was revealed that sending two kids to day care is a whopping 40 percent more expensive than paying rent in the top 100 largest metros in the United States. The average monthly cost for full-time center-based child care for an infant and a 4-year-old is estimated to be $2,182 - a significant 39.4 percent higher than the average rent for a two-bedroom unit, which stands at $1,566.
Cities with Sky-High Child Care Costs
Some cities are facing even more staggering differences between child care costs and rent. Springfield, Mass., takes the lead with families paying a whopping 136 percent more per month for child care compared to rent. Following closely behind are Syracuse (131 percent), Buffalo, N.Y. (125 percent), Spokane, Wash. (116 percent), and Bakersfield, Calif. (109 percent). These exorbitant costs are putting parents in these metros in a tough spot, often having to make difficult decisions regarding their careers and family planning.
Uncovering the Most Expensive Metros
The study found that in 91 out of the 100 metros analyzed, the cost of full-time child care for two kids surpassed monthly rent. Topping the list as the most expensive city for child care is Washington, D.C., where the monthly cost for two young kids in daycare is a staggering $3,773. Boston follows closely behind at $3,648, with Worcester, Massachusetts not far behind at $3,424.
A Glint of Hope for Some Families
Contrary to the majority, families in nine metros are paying less for child care than the average rent. Miami takes the lead in this category, with child care for two kids costing $1,982 - about 15 percent lower than the average rent of $2,324. Similarly, San Francisco, Austin, and San Jose also offer slightly lower child care costs compared to rent, driven partly by the substantially higher rental prices in these cities.
Regional Disparities in Child Care Costs
The study also uncovered that families in the South pay the least for child care, with cities like Jackson, Mississippi, offering the most affordable rates at $1,337 per month. However, even in these regions, child care costs still exceed the average two-bedroom rent, albeit by a smaller margin. Only a handful of other metros boast child care costs under $1,500, including Greenville and Columbia, South Carolina, as well as Little Rock, Arkansas, and Birmingham, Alabama.
Analyzing the Impact on Single Child Families
For families with only one child, the cost of full-time day care for an infant is comparatively lower at $1,218 per month, standing 22 percent less than the average two-bedroom rent. Despite this, in 16 metros, the cost of child care for a single child still exceeds the average rent, presenting a financial challenge for many families.
Looking Ahead
As the cost of child care continues to rise, securing affordable options for families with multiple children remains a pressing issue. With the burden of child care costs impacting parents nationwide, solutions to alleviate this financial strain are essential for fostering a sustainable and supportive environment for working families.