PROVIDENCE – Rhode Island is ranked among the most expensive states for the cost of child care, according to a recent analysis by WalletHub.
The Florida-based personal finance website compiled the prices of full-time family-based child care and center-based child care as of June 3 and adjusted them to the median income of a married couple and single-parent family.
Data used to create the inaugural ranking was collected from the U.S. Census Bureau and Child Care Aware.
According to the analysis, Rhode Island ranked seventh-highest in the nation for child care costs for a married couple. Data showed 10.42% of married couples’ income was spent on family-based child care and 11.45% was spent on center-based child care.
The data was worse for single-parent families. Rhode Island ranked fifth-highest in the nation for single parents, with 35.10% of the median income spent on family-based child care and 35.85% on center-based child care.
"It costs a lot of money to take care of a child’s needs, and many parents are left with the dilemma of whether to forgo one salary to do their own child care for the first few years or to shell out a significant chunk of their income for child care services," said Chip Lupo, WalletHub analyst.
New York was the most expensive for married families, according to the study. Those earners spent 11.03% of their median income on family-based child care and 12.84% on center-based child care. New Mexico was second, followed by Washington, Oregon and Vermont.
Washington, D.C., was the most expensive for single-parent families. Residents of the nation’s capital spent 44.59% of their median income on family-based child care and 51.18% on center-based child care. New York, Massachusetts, Vermont and Rhode Island rounded out the top five for that group.
The full report can be found here.