New Mexico Childcare Cost Calculator
Calculate childcare costs in New Mexico. Infant daycare ~$13,963/yr. Compare options, tax credits, and DCFSA savings.
How This Calculator Works
Calculation methodology and assumptions
Childcare cost calculator for New Mexico. Weekly rate pre-filled based on national averages adjusted by New Mexico's cost of living index (94.6). National avg: infant daycare ~$14,760/yr, preschool ~$10,600/yr. DCFSA provides pre-tax savings up to $5,000/yr. Child and Dependent Care Tax Credit: 20-35% of up to $3,000 (1 child) or $6,000 (2+ children).
Key State Information
New Mexico childcare facts: Estimated infant daycare ~$13,963/yr (~$1,164/mo) | Preschool ~$10,028/yr | Median household income $54,020 | Childcare as % of income: ~26%.
Frequently Asked Questions
How much does daycare cost in New Mexico?
In New Mexico, infant daycare averages approximately $13,963/year ($1,164/month). Preschool averages ~$10,028/year. This represents about 26% of the state's median household income of $54,020.
How can I reduce childcare costs in New Mexico?
Key strategies: (1) Use a Dependent Care FSA (save up to $5,000 pre-tax), (2) Claim the Child and Dependent Care Tax Credit (20-35% of costs), (3) Look into New Mexico state child care subsidy programs, (4) Consider family-based daycare vs centers, (5) Explore employer childcare benefits. DCFSA also saves on New Mexico's state income tax.
Related Calculators
More Childcare Cost Calculators
More Calculators for New Mexico
Explore related financial tools with New Mexico data