Childcare costs are growing faster than rent in the U.S.

The rising cost of childcare in the U.S. is vying with food prices and healthcare expenses in straining household budgets.

Nearly 8% of families are spending more than $2,000 per month on childcare services, including daycare, nanny services and other programs. That's more than double the share of households that spent that much just three years ago, according to new research from the Bank of America Institute.

In September, the cost of daycare and school-related fees rose faster than other essential expenses, such as rent and medical care, compared to the same period a year ago, according to federal labor data.