RIDING PUBLIC TRANSIT SAVES INDIVIDUALS $9,147 ANNUALLY AS GAS PRICES REMAIN LEVEL
September 4th, 2009
RIDING PUBLIC TRANSIT SAVES INDIVIDUALS $9,147 ANNUALLY AS GAS PRICES REMAIN LEVEL
Helps individuals save money and the environment
WASHINGTON, DC – Individuals who ride public transportation can save on average $9,147 annually based on the September 3, 2009 national average gas price and the national unreserved monthly parking rate.
“The Transit Savings Report” released monthly by the American Public Transportation Association (APTA) calculates the average annual and monthly savings for public transit users. The report examines how an individual in a two-person household can save money by taking public transportation and living with one less car.
Transit riders can save on average $762 per month. The savings amount is based on the cost of the national averages for parking and driving, as well as, the September 3 national average gas price of $2.596 per gallon for self-serve regular gasoline as reported by AAA, a slight decrease from last month’s price.
Taking public transportation provides a safe and affordable way for individuals and families to cut household costs, according to APTA. In addition, local public transit offers a travel option that has an immediate, positive impact in reducing an individual’s overall carbon footprint while helping reduce America’s dependence on foreign oil.
The national average for a monthly unreserved parking space in a downtown business district is $154.23, according to the 2009 Colliers International Parking Rate Study. Over the course of a year, parking costs for a vehicle can amount to an average of $1,850.
The top 20 cities with transit ridership (total annual unlinked passenger trips) 60 Million and below 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 Riverside $858 $10,298
2 Hartford $841 $10,096
3 St. Louis $825 $9,896
4 Sacramento $813 $9,757
5 Tucson $778 $9,337
6 Austin $765 $9,179
7 San Jose $761 $9,131
8 Providence $756 $9,071
9 Milwaukee $749 $8,991
10 San Antonio $735 $8,824
11 Buffalo $735 $8,820
12 Louisville $729 $8,752
13 Kansas City $729 $8,746
14 Tampa $729 $8,743
15 Charlotte $728 $8,741
16 Virginia Beach $721 $8,649
17 Orlando $691 $8,297
18 Richmond $661 $7,936
19 Salt Lake City $633 $7,595
20 Cincinnati $628 $7,535
*Based on gasoline prices as reported by AAA on 9/3/09.
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 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 gasoline as recorded by AAA on August 7 at $2.596 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 2009 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 http://www.publictransportation.org.
