WORCESTER – A new study by Lending Tree shows how out of reach affording childcare is for most families in Massachusetts.
The U.S. Department of Health and Human Services set a benchmark that child care is affordable for a family when it costs no more than seven percent of income. In Massachusetts, the average annual child care for two children costs $47,012.
To spend seven percent of income on childcare, a family in Massachusetts must have an income of $671,600. That’s 246.8 percent over the average income of $191,671 for a family with two children in the state, according to Lending Tree.
The difference nationwide is smaller, but still largely out of reach. Full-time, center-based care for an infant and 4-year-old averages $28,190 annually. That is 176.5 percent more than the average income for households with two kids, $145,656.
Lending Tree found that Native American families earn $94,094 and Black families earn $98,019. That means they need to earn 328% and 310.8% more, respectively, to meet the seven percent benchmark.
See the full Lending Tree study here.
