Childcare costs drive income requirements
As child-rearing costs rise, many families in cities like San Antonio are deciding whether it makes more financial sense to pay for child care or have one parent stay home. An article on CultureMap San Antonio features a SmartAsset analysis found that in Texas, a household needs about $74,700 in annual income for one working parent to support a stay-at-home partner and one child.
Using data from the MIT Living Wage Calculator, the study compared households with two working parents to those with one working parent. It found that when both parents work, families need to earn about $10,500 more per year to cover added expenses such as child care and transportation.
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