How much does child care cost? Some pay $36K, Care.com report finds

How much does child care cost? Some pay K, Care.com report finds

Parents are depleting their savings accounts to cover child care, a new report released by Care.com shows.

They are working multiple jobs, going into debt and ultimately leaving the workforce because even in a double-income home, the rising costs are too hard to manage, the report reveals.

Care.com, the largest online marketplace connecting families to child care, surveyed 2,000 households on what they are on track to spend this year. In a report of findings published Jan. 17, 49% said they plan to spend about $18,000 on care in 2024, while 23% of respondents said they will spend more than $36,000.

In some cases, child care is now costing more than a college degree. Here’s what else what the survey found – and what parents are saying about it.