Kids are expensive. So expensive in fact, many families are pretty much paying a second rent to send their kids to day care.
New data from the Department of Labor shows during 2022, when inflation was the highest it had been in 40 years, families spent between $6,552 and $15,600 on full-day care, depending on where they live. Data from 2022 is the most recent available.
The Labor Department noted that the upper range is more than 2022’s median annual rent, which was $15,216. The agency said households typically spend between 9% and 16% of their annual income on day care per child.
The Labor Department estimated more than 13 million of the nation’s roughly 63 million parents rely on paid child care providers.
According to the report, costs also tend to be higher for families with infants. It’s also more expensive for those living in larger counties or using center-based rather than home-based care.
