WASHINGTON, DC – Riding public transportation and living with one less car in a household can save an individual $8,670 a year based on the April 8, 2009 national average gas price and the unreserved monthly parking rate.
Gas prices are up 10 cents this month, compared to last month. However, new 2009 AAA data reports that due to the increase of car ownership costs the amount an individual can save by taking public transportation has increased more than an additional $100 each year.
The Transit Savings Report, released monthly by the American Public Transportation Association (APTA) examines how much individuals can save annually by taking public transportation rather than driving. In these uncertain economic times, taking public transportation is one way to immediately start saving money.
APTA’s Transit Savings Report calculates this month’s savings for public transit users at $723. This is based on the cost of parking and the April 8 gas price of $2.047 as reported by AAA.
Regarding parking costs, the national average for the monthly unreserved parking rate in a city’s downtown business district is $143, according to the 2008 Colliers International Parking Rate Study. Over the course of a year, parking costs alone can amount to an average of $1,720.
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
|
|
City |
Monthly Savings |
Annual Savings |
| 1 |
Boston |
$1,049 |
$12,583 |
| 2 |
New York |
$1,045 |
$12,541 |
| 3 |
San Francisco |
$974 |
$11,682 |
| 4 |
Chicago |
$892 |
$10,698 |
| 5 |
Philadelphia |
$874 |
$10,489 |
| 6 |
Seattle |
$871 |
$10,447 |
| 7 |
Honolulu |
$844 |
$10,131 |
| 8 |
Washington DC |
$809 |
$9,703 |
| 9 |
San Diego |
$787 |
$9,442 |
| 10 |
Minneapolis |
$782 |
$9,389 |
| 11 |
Cleveland |
$770 |
$9,244 |
| 12 |
Portland |
$763 |
$9,161 |
| 13 |
Denver |
$752 |
$9,029 |
| 14 |
Los Angeles |
$737 |
$8,846 |
| 15 |
Baltimore |
$735 |
$8,824 |
| 16 |
Miami |
$699 |
$8,394 |
| 17 |
Dallas |
$698 |
$8,382 |
| 18 |
Atlanta |
$683 |
$8,193 |
| 19 |
Las Vegas |
$680 |
$8,165 |
| 20 |
Pittsburgh |
$643 |
$7,712 |
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 2009 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 the price for self-serve regular unleaded as recorded by AAA on April 8 at $2.047 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.