New York’s Top Dollar Status on Child Care Costs

Being a New Yorker is expensive, we know this already. Being a New Yorker with children is an entirely different animal, a beast if you will, and there are statistics to show it. As a parent of an only child, there are times that I wonder how people do it with more than one, especially with multiple little ones all requiring childcare, it isn't easy.

Just how much are New Yorkers spending on child care costs, and how does that number compare to other states - the data might surprise you!

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Child Care Costs By State

I'm not sure if you can relate, but so many of my similarly-aged friends have relocated outside the NY-metro area, especially since COVID. Cost of living and child care expenses are the primary reasons I heard over the years as i've said goodbye to local friends.

A recent WalletHub survey took a look at the price of both family-based and center-based child care, and did an analysis of how that cost impacts the wallets of Americans across the states. WalletHub cited that a married couple could end up spending over 13% of their combined income on child care, with single parents allocating roughly 51% towards the expense.

Their data also suggests that in 66.5% of families with children, both parents are working full-time, a number that continues to steadily increase each year.

SEE ALSO: New York's Ranking For Working Moms

Top Spenders on Child Care

With a significant lead to the number two spot (New Mexico), New York sadly took the top ranking for states with the highest cost of child care. New York's 91.02 total score compared to New Mexico's 82.95 lead the way, as compared to the bottom of the list, with South Carolina coming in at 12.75 points, and South Dakota at dead last with 0.0.

The study indicates that as New Yorkers, married residents dedicate 11% to 12.8% of the median income, dependent on family-based or center-based childcare. When it comes to single parent situations, that number skyrockets to 38.4% to 44.7% of the median income.

READ MORE: What About Working New York Dads?

WalletHub cited the following explanation as to why the cost for single parents is more than twice as high as a married household.

New York has the 11th-highest median income for married couples, at $140,449, but only the 23rd-highest median income for single parents, at $40,315

To compare New York data to the other states (and Washington DC), and get a additional statistics from the study, you can access the WalletHub findings here.