Parents are facing the financial challenges of managing high childcare expenses that surpass what they pay for rent in most U.S. cities, according to a new study.
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.
The other cities rounding out the top five are Syracuse, New York , while Buffalo, New York and Wichita, Kansas, are tied with childcare costs 22.4% higher than rent.RELATED: These are the best cities for working parents, study saysMeanwhile, there are only nine cities nationwide where childcare is cheaper than rent.
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