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Childcare costs have exploded: New York ranks among most costly for parents

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  • Staff Report 

Childcare remains one of the most significant expenses for American families, with costs rising nearly 3% between December 2022 and December 2023. New York is among the states where parents feel the burden most, with childcare expenses consuming over 16% of the average family’s income. This ranks New York as one of the costliest states for center-based childcare, just behind Massachusetts, where parents spend more than 17% of their income.

A study by GOBankingRates, using data from Child Care Aware of America and the U.S. Census Bureau, highlights the financial strain of childcare on families across the U.S. In New York, the cost for center-based childcare per child nears $14,500 annually, a figure only surpassed by Massachusetts and closely followed by California. These costs significantly exceed the U.S. Department of Health and Human Services’ definition of “affordable” childcare, which is pegged at 7% of family income.

Despite the high costs, alternatives like family child care, which typically operates in residential settings, offer a slightly more affordable option. Still, every state, including New York, faces challenges in making childcare accessible and affordable for all families. With the expiration of COVID-era funding on the horizon, the issue of childcare affordability is set to intensify, potentially leading to closures of many programs and making it even harder for parents to find suitable care options.

Categories: NewsNew York State