Care.com just released its annual Cost of Care Survey, and the findings probably aren't surprising to Bay State moms and dads who struggle to pay for childcare. Massachusetts ranks as a the fifth least affordable state to send children to a day care center.
The survey looked at cost of two of the most popular child care options in the United States: day cares and nannies. The results were based on the average cost of care in relation to the state median family income among households with children.
Perhaps the most staggering find: 1 in 3 American families spend at least 20 percent of their household income on child care. (Yikes!) The survey found that parents are making significant career changes, putting themselves in debt and sacrificing date nights to be able to afford care for their children. Child care remains the #1 cost that surprises parents the most when they started having children, with 3 in 4 families saying that costs were more than they expected.
National Average Weekly Child Care Costs: Nanny: $580 (up from $472 in 2014 report) Child Care Center: $211 (up from $186 in 2014 report) After School Sitter: $242 (up from $181 in 2014 report) The survey notes that there are several ways families can mitigate the high costs of child care. Once families know how much they can afford, they can pinpoint the most feasible child care option by researching the current rates in their area with the site's free, interactive tools, like local nanny rates and nanny tax calculators.