Child Care Now Costs More Than the Typical Family's Mortgage Bill
By:
Mary Ellen Cagnassola
Editor:
Brad Tuttle
Getty Images
The typical American family can barely afford both a house and child care in most of the country’s largest cities. Monthly costs are now running roughly $2000 apiece for these two big family expenses, with the typical child care bill costing slightly more than a mortgage payment.
A recent analysis from real estate listing site Zillow found that the combined cost of buying a home and child care has swelled significantly since pre-pandemic times. In 31 of the 50 biggest U.S cities today, parents would need to devote more 60% of their monthly household income toward these expenses.
Ads by Money. We may be compensated if you click this ad.Ad
Because Everyone Wants The Best Interest Rate — Get Yours
State
New Loan Type
i
Loan Amount
i
$
Find Your Actual Rate at Rocket Mortgage (NMLS #3030) Today!
View RatesInterest rate estimates for:
Poor/Fair Credit
7.22% - 9.1%
Good/Very Good Credit
6.84% - 8.59%
Exceptional Credit
6.83% - 7.41%
Child care and mortgage costs rising
