New data says most U.S. families struggle to afford childcare for a household of two children
(NBC, KYMA) - The cost of childcare is one of the most significant expenses for families.
New data from LendingTree shows the average American family struggles to comfortably afford childcare for a household of two children.
The new research finds the average annual cost of care for an infant and a four-year-old together is more than $28,000.
Federal guidelines consider childcare affordable when it accounts for less than 7% of a family's income.
That means the average family needs to earn more than $402,000, which is nearly triple the average for families with two children.
Typical two-child households earn about $145,000, falling far short of what affordability standards suggest.
