Transit Riders’ Savings Exceed Thousands Per Year!

This message is of course about out of pocket savings, which really is all we can make a market based decision on. If the Government actually allowed or made us pay the full price of transportation these numbers and savings would be even higher, but the overall cost of transportation would alsot be slightly higher. Without further ado, here is APTA’s study and results.

Despite Lower Gas Prices Public Transit Riders Still Reap Big Savings

 Individuals can save $807 this month alone by switching to public transit for their daily commute

Washington, D.C. – Even with lower gas prices public transportation still offers individuals a way to save hundreds of dollars each month.  According to the American Public Transportation Association’s (APTA) December  Transit Savings Report, individuals who ride public transportation instead of driving can save, on average, $807 dollars this month, and $9,69 annually.   These savings are based on the cost of commuting by public transportation compared to the December 20, 2011 average national gas price ($3.21 per gallon- reported by AAA) and the national unreserved monthly parking rate.

Currently gas prices are $.15 a gallon less than last month, but still $.23 higher than this time last year. Proving riding public transit is a smart way to lower transportation costs.

APTA releases this monthly Transit Savings Report to examine how an individual in a two-person household can save money by taking public transportation and living with one less car.

The national average for a monthly unreserved parking space in a downtown business district is $155.22, according to the2011 Colliers International Parking Rate Study.  Over the course of a year, parking costs for a vehicle can amount to an average of $1,863.

The top 20 cities with the highest transit ridership are ranked in order of their transit savings based on the purchase of a monthly public transit pass and factoring in local gas prices for December 20, 2011 and the local monthly unreserved parking rate.*

 

   City  Monthly  Annual
 1  New York  $1,198  $14,375
 2  Boston  $1,106  $13,272
 3  San Francisco  $1,075  $12,902
 4  Seattle  $979  $11,749
5 Philadelphia $955 $11,457
6 Chicago $945 $11,343
 7  Honolulu  $937  $11,242
 8  Los Angeles  $880  $10,554
 9  Minneapolis $859  $10,308
 10  San Diego  $851  $10,215
 11  Portland  $842  $10,099
 12  Denver  $838  $10,053
 13  Washington, DC  $836  $10,031
14 Baltimore $817 $9,810
 15  Cleveland  $802  $9, 628
 16  Miami  $780  $9,355
 17  Atlanta  $762  $9,140
 18  Dallas  $759  $9,109
 19  Pittsburgh  $760  $9,120
 20  Las Vegas  $755  $9,064

*Based on gasoline prices as reported by AAA on 12/20/11.

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 2011 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 gasoline as recorded by AAA on December 20, 2011 at $3.21 per gallon.  The analysis also assumes that a person will drive an average of 15,000 miles per year.  The savings assume a person in two-person household lives with one less car.

In determining the cost of parking, APTA uses the data from the 2011 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.

# # #

The American Public Transportation Association (APTA) is a nonprofit international association of more than 1,500 public and private member organizations, engaged in the areas of bus, paratransit, light rail, commuter rail, subways, waterborne passenger services, and high-speed rail. This includes: transit systems; planning, design, construction, and finance firms; product and service providers; academic institutions; transit associations and state departments of transportation. More than 90 percent of the people using public transportation in the United States and Canada are served by APTA member systems.

It does however make me wonder, if someone is saving that much with transit usage, how much could someone save with a more intelligent and strategically located lifestyle that allows walking or biking to work? How much healthier and stronger would Americans be if they weren’t stranded in the suburbs and tied to their cars?

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