How much should I pay for childcare?

Answer

According to BabyCenter, the cost of childcare depends upon several factors. Geographical location, the type of childcare, age of the child and number of hours the child spends in childcare each week all impact the final rate.

BabyCenter explains that geography plays a major role in the final rate of childcare. For example, hiring a nanny in Kansas costs a lost less than hiring a nanny in New York. The cost of living is different along with wages in general.

The cost to care for an infant or toddler is more. The amount of care and number of workers increase due to the need for hands-on care. The average cost for a childcare facility in the United States is $972 each month. The range is from $300 to $1,564 each month. As of 2014, the average cost for preschool-aged children is $733 each month, BabyCenter notes.

Reference:
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