According to the latest Care Index, a report from New America and Care.com, the average annual cost of sending a child to day care in the United States is $9,589. That's only $61 less than the cost of one year of tuition at a public in-state college, according to the College Board.
The good news is that if you're used to paying bills like these now, you should have no problem redirecting that money to a 529 college savings plan once your child starts elementary school. You can invest in almost any state's 529 plan no matter where you live, but you'll want to start by checking out your home state's plans to see if they offer any tax breaks for residents.
Read on to see if day care costs more than college in your state, and learn about the different 529 plans available.
Virginia
Average annual cost of center-based childcare: $9,665.00
See Virginia's 529 college savings plans
Nevada
Average annual cost of center-based childcare: $9,724.00
See Nevada's 529 college savings plans
Wisconsin
Average annual cost of center-based childcare: $9,743.00
See Wisconsin's 529 college savings plans
Minnesota
Average annual cost of center-based childcare: $10,071.00
See Minnesota's 529 college savings plans
New Hampshire
Average annual cost of center-based childcare: $10,182.00
See New Hampshire's 529 college savings plans
Illinois
Average annual cost of center-based childcare: $10,229.00
See Illinois's 529 college savings plans
Maryland
Average annual cost of center-based childcare: $10,344.00
See Maryland's 529 college savings plans
Vermont
Average annual cost of center-based childcare: $10,360.00
See Vermont's 529 college savings plans
New York
Average annual cost of center-based childcare: $10,519.00
See New York's 529 college savings plans
New Jersey
Average annual cost of center-based childcare: $10,547.00
See New Jersey's 529 college savings plans
Hawaii
Average annual cost of center-based childcare: $10,604.00
See Hawaii's 529 college savings plans
Colorado
Average annual cost of center-based childcare: $10,613.00
See Colorado's 529 college savings plans
Oregon
Average annual cost of center-based childcare: $11,118.00
See Oregon's 529 college savings plans
Washington
Average annual cost of center-based childcare: $11,348.00
See Washington's 529 college savings plans
Connecticut
Average annual cost of center-based childcare: $11,456.00
See Connecticut's 529 college savings plans
California
Average annual cost of center-based childcare: $11,479.00
See California's 529 college savings plans
Massachusetts
Average annual cost of center-based childcare: $13,208.00
See Massachusetts's 529 college savings plans