Many individuals and families have certain lifestyle budgets they accommodate for when determining how much home they can afford. But often times, childcare costs aren’t considered, especially for those who lock down a mortgage before they decide to have kids.
- Childcare costs in the U.S. can be extremely high – ranging from 20 to 45 percent of median income for two kids in full-time care, Credio says.
- To put one infant in a full-time New York child care center costs $14,144, comprising 26.04 percent of the median household income of $54,310 per year,
- For a two-child household with one infant and one four-year-old, parents in New York spend $25,844, or 47.59 percent of the median household income.