The study found that infant care costs about 10% of annual household income in nearly all states.

Child care costs can consume a significant portion of a family’s income.

BankrateThe personal finance company has released a new study showing that child care costs are one of the largest household expenses in the US, with infant care costs expected to exceed 10% of median household income in 48 states and the District. Colombia in 2023. .

CONNECTED: Childcare now costs more than a mortgage, study finds

the report also compared other household expenses and noted that child care for one infant costs an average of $14,070, which exceeds the average annual household budget for food ($9,985 per year), health care ($6,159) and transportation ($13,174) .

Infant care was the least affordable, accounting for 20.5% of median family income, or about $13,521 a year out of an income of $65,952, according to New Mexico. Bankrate Research.

Which states have the least affordable child care costs?

1. New Mexico, 20.5%

2. Hawaii, 20.1%

3. New York, 19.6%

4. California, 18.7%

5. Massachusetts, 18.4%

Which states have more affordable child care costs?

1. South Dakota, 8.7%

2. North Dakota, 9.8%

3. Utah, 10.3%

4. Idaho, 10.9%

5. South Carolina, 11.2%

While these states have relatively affordable child care, Bankrate, citing a ReadyNation report, noted that with the exception of North Dakota, each of the four states has more “child care deserts” where affordable child care is difficult to find children.

CONNECTED: Child care costs are now rising at twice the rate of inflation, report says

According to studyThe item that costs households more on average than child care is housing costs, which average $25,436 per year.