Individuals riding public transportation can save, on average, $9,343 annually and $779 per month based on the July 7, 2010 national average gas price and the national unreserved monthly parking rate, according to the American Public Transportation Association (APTA).
"The Transit Savings Report" released monthly by the 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.
The savings amount is based on the cost of the national averages for parking and driving, as well as the July 7 national average gas price of $2.72 per gallon for self-serve regular gasoline as reported by AAA.
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.