Families spending more on child care than housing, study finds

 

MILWAUKEE (CBS 58 -- Inflation is causing a strain on the cost of living for many families. A new study named housing and childcare as the top expenses for the average American family.

The data found shows that childcare now costs more than a mortgage.

The impact varies from city to city but for most families the study found that childcare and mortgage costs take up about 66% of a family's income. In Milwaukee, the two expenses take up about 80% of a family's income.

The analysis from Zillow found that the median household income in Milwaukee is about $71,000 per year.

The average mortgage payment in Milwaukee is about $1,800 per month or $21,6000 per year. When it comes to childcare, the average Milwaukee family spends more than $30,000 each year.

Childcare costs have been rising for some time. The industry is dealing with increasing operating costs and worker shortages that all play a factor in what families are being charged.

For families who don't have a mortgage and are renting, balancing housing and childcare costs is also an issue.