For many U.S. families, paying for child care can take a significant bite out of the household budget. A new ConsumerAffairs analysis found families nationwide would need to earn about $205,000 a year for full-time, center-based toddler care to meet a federal affordability benchmark.
That figure is more than twice the 2024 median family income of $99,999. Nationwide, average toddler care costs account for 14.3% of median family income, more than double the 7% affordability benchmark previously established by the U.S. Department of Health and Human Services.
High child care costs can affect more than household budgets. Experts told…
Read the full article at MONEYTALKSNEWS.COM
