It’s certainly not a secret that it costs a lot to raise a kid, especially if both parents work and need to spend money on childcare. Well, as you can imagine, the cost varies from state to state, and there are certainly some states where those costs may break the bank.
Well, Business Broker Network just revealed a new map showing the price of childcare in each state, basing their numbers on a national survey of childcare providers, and let’s just say the numbers can be quite shocking.
Overall, folks in Washington, DC shell out the most for childcare, a whopping $35,782 a year, or $2,982 a month, followed by Massachusetts ($29,426 annually/$2,452 a month) and New York ($24,102 annually/$2,009 a month).
Top Ten States With The Highest Childcare Costs(Average monthly cost)
- Washington, DC ($2,982)
- Massachusetts ($2,452)
- New York ($2,0009)
- Connecticut ($1,983)
- Colorado ($1,868)
- Minnesota ($1,792)
- Washington ($1,790)
- Maryland ($1,772)
- Arkansas ($1,759)
- California ($1,683)
Of course, not every state is so costly. Folks in Mississippi have it the best, spending only $7,981 a year, or $665 a month. Click here to find out how expensive childcare is in your state.
Source: Business Broker Network