According to an American Community Survey, there were 488,187 childcare workers in 2019.
This makes figuring out how much childcare costs tough, especially if you’re not sure what the average price is. It’s no secret that childcare is expensive, but it’s hard to know just how much you’ll need to budget for it.
Well, don’t worry. We’ve got your back! Keep reading as our guide will answer the question, “How much does childcare cost?” And a few different ways in which you can reduce the cost of childcare. We’ve collected data from across the country so you can see how your area compares.
How Much Does Childcare Cost?
Around the country, childcare costs can range from a few hundred dollars to a few thousand dollars per month. The average cost of full-time care in a daycare center is currently $11,666 per year or just over $972 per month.
The average cost of center-based care for an infant is nearly $12,600 annually or $1,050 monthly. For a 4-year old, it’s around $10,400 annually or $870 per month. Note that these averages are national and might not reflect your specific region’s costs.
There are a variety of factors that will impact how much you pay for childcare. The type of care you choose – whether it’s center-based, home-based, or a mix of both – will have a significant impact on the price tag. Additionally, your location will be a deciding factor in the cost for parents.
Some parents may also find that they need to pay for before- and after-care services to accommodate their work schedules. The hours of care that are provided can also affect the overall cost. Generally, the longer the hours of care, the more expensive it will be.
So What Can You Do to Reduce the Cost of Childcare Services?
One option is to ask family or friends if they can watch your child for free or at a reduced rate. You could also look into government assistance programs like Child Care Assistance Programs (CCAP) or the Child and Dependent Care Tax Credit. Additionally, some employers offer Flexible Spending Accounts (FSAs) that can be used to cover childcare costs.
No matter what route you take, it’s important to do your research and compare prices before making a final decision. The cost of a childcare franchise can be a significant expense, but there are plenty of options available to help offset childcare prices.
Get the Childcare Your Child Deserves
So, how much does childcare cost on average? As we’ve shown, the price varies depending on a variety of factors. However, thanks to this guide, you now have an idea of what to expect when it comes to paying for childcare facilities.
No matter where you are, it is important to do your research and find a provider that offers quality care at an affordable price.
Want more articles about this topic? Check out our blog!