| |
News
May 5, 2009
Riding public transportation can save an individual an average of $8,691 a year based on the May 5, 2009 national average gas price and the unreserved monthly parking rate, according to the American Public Transportation Association (APTA).
Taking public transportation is an economical way to travel as individuals seek to “ride out” the recession. Riding public transportation also reduces carbon emissions and mitigates America's dependence on foreign oil.
“In these uncertain economic times, individuals are looking for ways to do more with less,” said APTA President William W. Millar. “Riding public transportation is one way to immediately save a significant amount of money. You can save money and save the planet.”
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 and having one less car in the household.
APTA’s Transit Savings Report calculates the average savings for public transit users at $724 per month. This is based on the cost of parking and the May 5 gas price of $2.079 as reported by AAA. The cost per gallon of regular unleaded fuel is now up 33 cents since December 2008.
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 |
$1,053 |
$12,632 |
| 2 |
New
York |
$1,049 |
$12,589 |
|
3 |
San Francisco |
$976 |
$11,713 |
| 4 |
Chicago |
$899 |
$10,788 |
|
5 |
Philadelphia |
$877 |
$10,521 |
| 6 |
Seattle |
$874 |
$10,483 |
|
7 |
Honolulu |
$846 |
$10,148 |
| 8 |
Washington DC |
$811 |
$9,730 |
|
9 |
San Diego |
$787 |
$9,448 |
|
10 |
Minneapolis |
$784 |
$9,407 |
|
11 |
Cleveland |
$774 |
$9,289 |
|
12 |
Portland |
$767 |
$9,201 |
|
13 |
Denver |
$756 |
$9,078 |
|
14 |
Los Angeles |
$738 |
$8,854 |
|
15 |
Baltimore |
$736 |
$8,832 |
|
16 |
Miami |
$699 |
$8,393 |
|
17 |
Dallas |
$697 |
$8,364 |
|
18 |
Atlanta |
$682 |
$8,184 |
|
19 |
Las Vegas |
$682 |
$8,184 |
|
20 |
Pittsburgh |
$644 |
$7,724 |
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 May 5 at $2.079 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.
Source:
http://www.apta.com/
|
|
