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Whether you have a two-parent household or a one-parent household, child care costs have undoubtedly been a point of discussion. The topic of child care has been a point of interest on our blog several times. But let’s talk brass tacks: how much does child care actually costs…no matter where you live?
Child care is a huge part of any parent’s budget, so we decided to take a look at the annual costs of child care by state, as reported by the National Association of Child Care Resources and Referral Agencies (NACCRRA). The costs are broken down into three age groups: infant care, 4-year-old care and school-age care. The annual costs listed above are for child care centers, not family child care. Child care centers are for children of all age groups, and all states require child care centers to be licensed. Family child care providers offer child care in the provider’s home. According to childcareaware.org, “most states require family child care providers be regulated if they care for more than four children.”
The affordability levels of child care centers within states was determined by the percentage ration between child care costs and overall family income. (NACCRRA)
Peter Dunn a.k.a. Pete the Planner® is an award-winning financial mind and a former comedian. He’s a USA TODAY columnist, author of ten books, and is the host of the popular radio show and podcast, The Pete the Planner Show. Pete is considered one of the foremost experts on financial wellness in the world, but he’s just as likely to talk your ear off about bass fishing.