Childcare costs 32% higher than rent in Springfield
SPRINGFIELD, Mass. (WWLP) – Full-time child care is 39% more expensive than rent across the largest US metros, including the City of Springfield.
We all know that childcare can be expensive, and a new survey conducted by Lending Tree shows that families who pay for childcare spend an average of 18.6 percent of their income on it.
The average monthly childcare costs for an infant and 4-year-old spike to $2,182 — which is 39.4% higher than renting a two-bedroom unit. Springfield sees the biggest difference in infant care costs and rent. Full-time center-based care costs an average of $1,800 a month in Springfield, while rent is $1,300 — meaning child care costs are 32.3% higher.
The metros with the next highest differences are Syracuse, N.Y. at 25.8% Buffalo, N.Y., and Wichita, Kansas at 22.4%.
"It's insane that even childcare can be more expensive than rent," says Francheska Matos of Connecticut. "People nowadays can't even afford rent let alone childcare so where are families supposed to be doing while they go to work and they can't afford childcare it's ridiculous."
According to Child Care Aware of America, nearly half of children under the age of six in working families living in Hampden County don't have access to child care during the workweek, which may drive up costs.
There are options to avoid racking up debt, financial experts recommend seeking financial help from local and state agencies to lessen the load on our wallets.
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