In Tough Economic Times, Public Transit Users Save More than $8,400 per Household

[marmar]

from the American Public Transportation Assn:



In Tough Economic Times, Public Transit Users Save More than $8,400 per Household



As American families look for ways to save more and maximize their budgets, riding public transportation is a fast and easy solution to save money on the cost of commuting.

According to the American Public Transportation Association’s (APTA) “Transit Savings Report” a person riding public transportation can achieve an average annual savings of $8,481 per year by taking public transportation instead of driving, based on today’s gas prices and the average unreserved parking rate.

“In these difficult economic times, riding public transportation is an excellent way to stretch the family budget and save money,” said APTA President William W. Millar. “From a consumer’s perspective, the savings recouped by taking public transportation equates to getting your food for free and having an extra $2,000 in your pocket.”

According to the Food Institute, $6,111 is spent on food each year by the average family. In regards to parking, on average, according to the 2008 Colliers International Parking Rate Study, the national average for the monthly unreserved parking rate in a city’s downtown business district is $143. Over the course of a year, parking costs alone can amount to an average of $1,720.

APTA’s “Transit Savings Report” calculates the monthly savings for public transit users at $707 per month. This is based on February 5, 2009 gas price of $1.907 as reported by AAA. Gas prices are up this month by 22 cents, but are still $1.069 lower than last year.

The top 20 cities with the highest transit ridership are ranked in order of their transportation savings based on the purchase of a monthly public transportation pass and factoring in today’s local gas prices and the local monthly unreserved parking rate.*

Top Twenty Cities – Transit Savings Report

Monthly Savings
Annual Savings


1
Boston
$1,034
$12,407


2
New York
$1,030
$12,365


3
San Francisco
$955
$11,462


4
Chicago
$874
$10,491


5
Philadelphia
$859
$10,305


6
Seattle
$851
$10,215


7
Honolulu
$831
$9,972


8
Washington DC
$792
$9,506


9
San Diego
$768
$9,220


10
Minneapolis
$766
$9,189


11
Cleveland
$753
$9,041


12
Portland
$744
$8,932


13
Denver
$733
$8,800


14
Baltimore
$719
$8,626


15
Los Angeles
$701
$8,416


16
Miami
$685
$8,220


17
Dallas
$680
$8,158


18
Las Vegas
$669
$8,031


19
Atlanta
$667
$8,008


20
Pittsburgh
$626
$7,517

*Based on gasoline prices as reported by AAA on 2/5/09.

Methodology

APTA calculates the average cost of taking public transit by determining the average monthly transit pass of local public transit agencies across the country. This information is based on the annual APTA fare collection survey and is weighted based on ridership (unlinked passenger trips). The assumption is that a person making a switch to public transportation would likely purchase an unlimited pass on the local transit agency, typically available on a monthly basis.

APTA then compares the average monthly transit fare to the average cost of driving. The cost of driving is calculated using the 2008 AAA average cost of driving formula. AAA cost of driving formula is based on variable costs and fixed costs. The variable costs include the cost of gas, maintenance and tires. The fixed costs include insurance, license registration, depreciation and finance charges. The comparison also uses the average mileage of a mid-size auto at 23.4 miles per gallon and today’s price for self-serve regular unleaded as recorded by AAA at $1.907 per gallon. The analysis also assumes that a person will drive an average of 15,000 miles per year. The savings assume a household gives up one car.

In determining the cost of parking, APTA uses the data from the 2008 Colliers International Parking Rate Study for monthly unreserved parking rates for the United States.
To calculate your individual savings with or without car ownership, go to www.publictransportation.org.

[Terry_M]

1. If only...

Public transportation wasn't set up to be as unfriendly as possible and didn't take literally twice as long to get from point a to point b... I've seen it efficiently organized in one city and I've seen it organized in such a way that you simply will never use it unless you have absolutely no choice in others.

[jwirr]

2. There is also a lesser known way the public transit saves money.

In my community we have many elderly and disabled who live at home instead of a public facility which is much more expensive. One of the main things that allows them to remain in their homes is access to public transit. That savings is huge but I am not sure how much.

[lumberjack_jeff]

3. We've been using transit pretty regularly lately.

Despite the fact that we have to drive 7 miles to the nearest bus stop, it's still a money-saver.

[SoCalDem]

4. Not here.. My husband commutes 5 days a week (32 miles each way)

15
Los Angeles
$701
$8,416

It does not cost us $701 a month for him to commute in a car we paid off 15 years ago, and pay $45 a month for insurance..He uses a company gas card, and reimburses for personal commuting gasoline ..even during the $4 gas, it was never over $250 for the month..

It's about the choices people make.. have $500 a month car payment, maybe..but in a paid off car..no way..


and rail & bus service is not availabe to places people often need to go...

For some people it works, but not for most Southern Californians..

[dsc]

5. I would love to have your insurance company

that is a fantastic price for LA.

[SoCalDem]

6. Been with State Farm for 39 years..multi-car/safe-driver discounts

accident-free..full coverage..91 Honda Accord EX

[MissB]

7. my employer subsidizes our Trimet passes

So I'd only have to pay $18 a month for an all zone pass. However, childcare constraints and travel time prevent me from taking advantage. Maybe in a few years....

[customerserviceguy]

10. As soon as I saw "Trimet" I knew you were in Portland, OR

which is famous for being transit-friendly. Every city in America should look to Trimet for how to make transit accessible and usable by as many people as possible.

Having the light rail Max system is a big part of it, but the Trimet folks really do go the extra mile to help people make maximum utilization of clean, reasonably priced, safe mass transit.

[ddeclue]

8. NICE THEORY but try keeping a job when the public transit sucks

as it does in most places.

:eyes:

[rcrush]

9. It sucks where i live most people have to walk 20 to 30 min to get to a bus stop

And most of the time the damn busses dont drop you off anywhere near where you need to go.