Nationally, parents who are apartment dwellers pay almost as much for childcare as they do for rent. Unfortunately, this trend extends to Austin.
A new analysis by apartment marketplace HotPads, part of the Zillow Group, shows moms and dads renting in the Capital City pay almost as much for childcare as they do for housing.
According to HotPads, the gap between rent and childcare costs in the Austin metro area is widest among Texas' four major markets — $260. Median rent is $1,735 a month, compared with average childcare expenses of $1,475 a month. That adds up to $3,210 a month, making it the highest overall total in the state for rent and childcare.
“As rents and childcare costs march steadily higher, keeping up with these rising costs may be one of many factors keeping parents up at night,” Joshua Clark, an economist at HotPads, says in a release. More than one-third of renters have kids at home, according to HotPads.
“Rent appreciation has slowed from recent highs,” Clark says, “but as the economic recovery matures, childcare costs will likely continue to rise. For renters with young children in childcare, that means any potential savings from softer rent appreciation could quickly be eroded by higher childcare expenses.”
Dallas-Fort Worth moms and dads have it a little easier in this regard than apartment residents elsewhere in Texas. The average cost of monthly childcare in DFW is $320 less than the median monthly rent.
In DFW, the median rent works out to $1,660 a month, compared with average monthly childcare costs of $1,340, HotPads says. That’s a difference of $320. The total tab for rent and childcare: $3,000 a month.
Meanwhile, parents who are apartment dwellers in the Houston metro area face median monthly rent of $1,580, only $105 more than the $1,475 in average monthly expenses for childcare. The total for both categories is $3,055.
San Antonio families have it a bit easier than the other major cities in Texas. Median rent in the San Antonio area is $1,380 — just $95 above the average monthly childcare costs of $1,285. Those two monthly expenses add up to $2,665.