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September 13, 2013

Public transit users save $10,122 annually

Individuals who ride public transportation instead of driving can save, on average, more than $844 this month, and $10,122 annually, according to the American Public Transportation Association’s (APTA) September Transit Savings Report.

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 Sept. 11, 2013 average national gas price 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 $166.26, according to the 2012 Colliers International Parking Rate Study. Over the course of a year, parking costs for a vehicle can amount to an average of $1,995.

The savings also factor in local gas prices for Sept. 11, 2013 and the local monthly unreserved parking rate.

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