TEXAS, USA — Child care is known as an expensive venture. Thanks to recent studies from Child Care Aware of America (CCAoA) and the University of Texas at Austin we now have data on just how much child care costs for families in Texas.
According to CCAoA, the national average price of child care has increased by 23% between 2017 and 2023.
The report says placing two kids at a child care center costs at least 25% more than the typical rent in every state.
For an infant in family child care or in-home care, families are paying $9,724 per year. It's slightly cheaper for a toddler at $9,672.
Parents are spending an average of $11,000 dollars for an infant in daycare centers and $10,000 for a toddler.
Compared to other life expenses, child care for two children costs nearly double the amount of college tuition and goes head-to-head with the amount parents are spending on housing.
With inflation, it's only getting more difficult for parents to keep up. It's even forcing some to exit the work force and stay home.
Even if you don't have kids, you're still affected by all of this. A study by the University of Texas at Austin says the lack of affordable child care is costing the Texas economy more than $11 billion per year.