GRAND RAPIDS, Mich. — A new Lending Tree survey confirmed parents pay about 40% more for childcare for two young kids than for rent in most parts of the country.
Lending Tree looked at federal data and 'Child Care Aware of America' info.
The survey found monthly costs for two young kids was $2,182 on average across the country, while rent for a two-bedroom apartment across the nation's 100 largest metro areas is about $1,566— putting childcare costs at double that of rent.
According to the survey, the pattern repeats in 9 of our country's 100 metro areas.
In Grand Rapids, the findings show the average monthly care for infants to 4-year-olds is $300 to $500 more than the average monthly two-bedroom rent.
The average monthly infant care for one child came to $1,065, while for two kids is $1,940.
Meanwhile, the average monthly two-bedroom rent is $1,069
The hikes in childcare costs are following suit as rent continues to increase as well.
Fair market rents for a two-bedroom unit have risen by approximately five-hundred and five dollars across the 50 largest metros since 2019, according to a different lending tree study.
Experts suggest, those struggling with childcare costs can try seeking financial help from the government and other organizations, or consider a personal loan.
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