According to a study by the Economic Policy Institute, infant childcare in Maryland costs an average of $13,932 per year or $1161 per month. With the median family incoming hovering at $86,833, infant daycare costs make up 16% of the average family’s monthly income. According to the U.S. Department of Health and Human Services, childcare is affordable if it accounts for 10% or less of a family’s income.[1]
[1] “Child Care Costs in the United States.” Economic Policy Institute. Accessed December 25, 2018. https://www.epi.org/child-care-costs-in-the-united-states/#/CA.
How Do I Know What I Can Afford?
The Maryland Family Network and other similar services offer information about available services and financial aid. Making use of financial aid and child tax credits can help you afford childcare that might otherwise be out of your price range. It is also worth discussing finances with the childcare facility; some will be willing to work with you on cost, dependent on your financial situation.
What Factors Impact the Cost of Infant Daycare?
Infant daycare costs are impacted in large part by operating costs for the daycare. Factors like whether the daycare includes food and supplies for your child, as well as the level of education it requires for its employees will have a significant impact on how much you’re paying for care. The physical location of the facility will impact the cost as well, both due to the rent (part of operating costs) and the number of parents in the workforce.
How Do I Know What’s Right for Me?
Services like topdaycarecenters.com and ChildCare.gov provide services and resources that help with decisions. By utilizing these resources, you will be able to make a more educated decision and feel more confident in your choices.
About topdaycare
Top Daycare Centers was started with a simple mission - To help parents like us find the safest, most reliable and trusted daycare and child care centers and services near your area.