According to the American Public Transportation Association’s (APTA) July Transit Savings Report, individuals who ride public transportation instead of driving can save, on average, $809 this month, and $9,702 annually.
The savings are based on the cost of commuting by public transportation, compared to the cost of owning and driving a vehicle, which includes the July 24 average national gas price ($3.48 per gallon-reported by AAA) and the national unreserved monthly parking rate.
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 the 2011 Colliers International Parking Rate Study. Over the course of a year, parking costs for a vehicle can amount to an average of $1,863.