Report: Bay Area childcare costs skyrocketing

SAN FRANCISCO (KGO) -- The cost of childcare is sky-rocketing in the Bay Area, according to a new report.

The Insight Center for Community Economic Development compared the cost of monthly child care in 2014 and 2018.

The median cost of childcare for preschool-aged kids rose 40-percent in the Bay Area, from about $1,000 a month to more than $1,500 a month.

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The biggest jumps were in San Francisco, which was up 55-percent, and Marin County, which saw an increase of 54-percent.

The increase in cost has some parents working multiple shifts to pay for childcare, or working odd shifts like graveyard to save on daycare. Some couples are choosing to live on one income so the other parent can stay home to save on childcare costs, while others are simply moving out of the area.

One reason for the increase could be the lack of affordable housing. It's harder for childcare providers to find space to operate.

The number of children is declining in San Francisco, where only 13-percent of the population is under 13, the lowest of any major city.