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Innovation

Ride public transportation, save ten thousand dollars a year

Estimated savings range between $14,000 for New York commuters to $8,000 for Pittsburghers.
Written by Joe McKendrick, Contributing Writer

Individuals who ride public transportation are saving an average of $9,343 annually, a new study calculates.

The American Public Transportation Association (APTA) just released numbers, based on gas prices and parking rates as of July 7th, that determines transit riders save on average $779 per month.

The national average for gas was $2.72 a gallon, and the cost for an unreserved parking space in a downtown business district was $154.23 a month. APTA also calculated car maintenance costs, as well as prevailing transit rates.

The greatest savings are seen in the major metro areas with the highest costs of living. New York-area commuters could save close to $14,000 a year.  Bostonians and San Franciscians will save at least $12,000 a year. That could shift a lot of money into more productive parts of the economy. Of course, unfortunately, public transit is not an option to many Americans, since metro areas are laid out as haphazard, sprawling suburbs where the car is the only way to get around.

Top Twenty Cities – Transit Savings Report
Ranking City Monthly Savings Annual Savings
1 New York $1,158 $13,901
2 Boston $1,040 $12,475
3 San Francisco $1,029 $12,347
4 Chicago $955 $11,458
5 Seattle $946 $11,356
6 Philadelphia $934 $11,208
7 Honolulu $902 $10,822
8 Los Angeles $850 $10,205
9 San Diego $837 $10,049
10 Minneapolis $830 $9,959
11 Portland $813 $9,758
12 Denver $812 $9,747
13 Cleveland $808 $9,699
14 Baltimore $789 $9,469
15 Washington, DC $759 $9,108
16 Miami $757 $9,082
17 Dallas $738 $8,855
18 Atlanta $729 $8,745
19 Las Vegas $728 $8,738
20 Pittsburgh $687 $8,248

Source: APTA

This post was originally published on Smartplanet.com

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