Bank More by Going Car-Less

According to a recent report published by the American Public Transportation Association (APTA), using public transportation instead of driving a personal car will yield an average annual savings of $9,596 per year based on today‚Äôs gas prices and the average unreserved parking rate. The monthly “Transit Savings Report” is developed using data from the APTA Fare Collection Survey, the Colliers International Parking Rate Study, and the AAA Cost of Driving Formula. The figures assume the elimination of one car from the household.

The report also ranks U.S. cities individually, with Boston coming out on top (or bottom, depending upon how you look at it) with a whopping $13,490 annual savings, followed closely by New York and San Francisco.

City Monthly Savings Annual Savings
1 Boston $1,124 $13,490
2 New York $1,119 $13,431
3 San Francisco $1,054 $12,648
4 Chicago $978 $11,738
5 Philadelphia $946 $11,346
6 Seattle $944 $11,327
7 Honolulu $935 $11,215
8 Washington DC $883 $10,593
9 Los Angeles $871 $10,455
10 Minneapolis $859 $10,302

Of course, bike commuting yields even greater savings by eliminating transit fees and reducing long-term health care costs.

More at the APTA website

 
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