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Rising Childcare Costs
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Trend
Rising Childcare Costs
There was once a day when finding childcare was just about ensuring your kids were safe while parents worked. Those days are long gone.
Today, the rising costs of childcare in the United States, part of a broader affordability crisis, is causing serious problems for parents, governments, and underpaid workers.
With fees outpacing inflation and wage growth, the demand for affordable, high-quality childcare services is higher than ever:
Childcare costs have surged by 32% since 2019, with families spending an average of over $700 a month.
The cost of daycare and preschool rose 4.4% in March 2024 compared to the previous year, outpacing the overall inflation rate.
The average cost for full-time, in-home infant care is around $39,270 per year.
Childcare expenses for two children now exceed the average rent in all 50 states.
These rising costs and the expanding market present a unique opportunity for out-of-the-box solutions. Here are our favourite ideas to capitalize on this trend:
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