Families need to earn $400K+ to afford childcare

(CNN)– Childcare is one of the biggest financial burdens for parents in the U.S.

According to research from Lending Tree, parents need to earn about $400,000 per year to comfortably afford childcare for two kids.

Federal guidelines say childcare is considered affordable when it does not cost more than 7% of household income.

The average costs for care of an infant and a four-year-old are about $28,000 a year.

Nationally, the average family brings in about $145,000 of annual income falling significantly short of the affordability recommendations.