When you have a child, it might seem like a smart move to start saving for college. But given the current state of child care costs, you might want to start saving for child care first.
A recent report found the average cost of child care in Washington state is more expensive than tuition at the University of Washington. Washington state is also one of the most expensive states for child care with weekly day care costs jumping about 9% in 2023 from the year prior.
More than 60% of families can’t afford the full cost of high-quality day care, according to the U.S. Treasury. Yet, at the same time, care center operators tell us they can barely stay open and many workers say they aren’t making a living wage. The system seems to work for very few.
So, what are parents and caregivers experiencing and what’s being done about it at the state and national levels?
In this special KOMO Town Hall, we explore those topics.
According to Child Care Aware, the average monthly price of full-time child care in Washington is $1,044 per child. That’s 18% of the median household income for a family with children under 6.
In Washington, a family with at least one child under 6 and earning 25% of the median household income pays 72% of their income on child care for every child enrolled. Married couple families pay on average 15% of their income for child care, while single-parent families pay on average 33% of their income for child care.
According to the Washington Department of Children, Youth and Families, the goal is for any financial contribution by families to be capped at no more than 7% of household income and for the child care workforce to be provided living wages and benefits. Yet, reaching that goal is going to take time, according to DCYF.
The Child Care Subsidy Programs helps Washington families pay for quality child care through either Working Connections Child Care or Seasonal Child Care.
To qualify for WCCC, the child must reside in Washington, the family with whom the child resides must live in Washington state, the family’s income must be at or below 60% of the state median income at application of 65% of SMI when reapplying. The family must also have resources under $1 million.
For some, the costs are so high it makes more financial sense to quit their jobs and stay at home with a child than to continue working. For those who choose to find care, they often run into long waitlists they’re asked to join months before their child is even born.
So why are child care prices so high? Running a child care operation is expensive.
According to the 2023 Cost of Child Care report, 70% of a child care program budget is personnel expenses. It reports that, unlike the K-12 school system, families primarily bear the cost of child care. Federal and state funding accounts for less than 40% of industry revenue.
While child care is expensive for families, the report found that if it included living wages, the actual cost of care would be much higher. The average salary of a lead teacher in King County is $38,992 while the living wage is $76,443, according to the report.
The lack of a living wage makes for high turnover for child care providers and unpredictable cash flow, say center operators. Meanwhile, federal leaders say private equity is getting into the industry, seeing it as a very lucrative line of business.
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