Study finds only 9 cities where childcare is cheaper than rent
FILE-A baby girl enjoys playing on the swing with her mom at the playground. (Photo by Tim Clayton/Corbis via Getty Images)
Parents raising children manage a lot daily, including childcare expenses, which in some instances can cost more than what they pay for rent.
A new Lending Tree study finds that the average monthly childcare costs for an infant and 4-year-old soared to $2,182–39.4% higher than renting a two-bedroom apartment.
The online lending marketplace notes that the average monthly cost of full-time center-based childcare is higher than rent in 16 of the 100 largest U.S. cities.
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Springfield, Mass., ranks first as the city with the highest childcare expense compared to rent, with full-time daycare center-based costs averaging $1,819 a month, while rent is $1,375, which means childcare costs are 32.3% higher.
The other cities rounding out the top five are Syracuse, New York (childcare costs average $1,417 a month, while rent is $1,126, meaning childcare costs are 25.8% higher than rent), while Buffalo, New York and Wichita, Kansas, are tied with childcare costs 22.4% higher than rent.
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Meanwhile, there are only nine cities nationwide where childcare is cheaper than rent.
9 cities where childcare is cheaper than rent
- Miami-($1,982 childcare average compared to a $2,324 rent average)
- San Francisco-($2,964 childcare average compared to a $3,359 rent average)
- Austin, Texas-($1,770 childcare average compared to a $1,924 rent average)
- San Jose, California-($2,899 childcare average compared to a $3,132 rent average)
- Charleston, South Carolina-($1,523 childcare average compared to a $1,599 rent average)
- Tampa, Florida-($1,772 childcare average compared to a $1,851 rent average)
- Orlando, Florida ($1,785 childcare average compared to a $1,857 rent average)
- Atlanta-($1,782 childcare average compared to a $1,844 rent average)
- North Port, Florida-($1,802 childcare average compared to a $1,8115 rent average)
Lending Tree collected statistics for their study using 2023 Child Care Aware of America data to calculate average full-time center-based childcare costs for one infant and two children (an infant and a 4-year-old) in the 100 largest cities in the U.S.
The team calculated childcare costs in the 100 cities by adjusting state costs to the 2022 metropolitan area regional price parity (RPP) for all items through the U.S. Bureau of Economic Analysis (BEA). This adjustment was performed using the state RPP as the basis for Lending Tree’s calculation.