SIOUX FALLS, S.D. (sfsimplified.com) — New data from the Sioux Falls Childcare Collaborative estimates that the gap in childcare affordability is around $636 million per year statewide. So what does “affordability” mean, according to the feds? Glad you asked, here’s the scoop. By federal definitions, “affordable” childcare costs no more than 7 percent of a household income. In South Dakota, the median household income is $59,896. Seven percent of that median income is $4,192. That’s what the federal government considereds affordable. The average cost of a year of childcare for one child in South Dakota is $10,000. So, we’re starting with a gap of $5,808 a year. When you factor in that 74% of families with children have both parents working, the numbers are astronomical.
Sioux Falls Simplified published the article where this troubling data came from. You can read the whole thing here.
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