Childcare costs are rising faster than rent, straining U.S. family budgets

TL;DR

Nearly 8% of U.S. families are spending more than $2,000 monthly on childcare, double the rate from three years ago.
Childcare costs rose faster than rent and medical care in September compared to the previous year.
Families nationwide spent an average of 8% of their monthly income on childcare in September.
Affordable childcare is defined as consuming no more than 7% of household income.
Lower- and middle-income families spend nearly 9% of their annual incomes on childcare.
Grandparents are providing $172 billion annually in direct financial assistance to families.
Median childcare costs rose fastest in Nashville, Tennessee, followed by Jacksonville, Florida, and Phoenix, Arizona.
Increased domestic migration and a shortage of childcare workers are driving up prices.
The lack of affordable childcare disproportionately affects women's employment opportunities.

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