Individuals who switch from driving to riding public transportation can save, on average, up to $830 this month, and up to $9,956 annually, according to the August Transit Savings Report, released by the American Public Transportation Association (APTA).
These numbers show a substantial increase over this time last year, as gas prices have risen nearly $.86 a gallon. These savings are based on the Aug. 10, 2011 average national gas price ($3.64 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 $1,862.64.