Individuals who ride public transportation instead of driving can save, on average, more than $816 this month, and $9,795 annually, according to the American Public Transportation Association’s (APTA) May 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 May 29, 2013 average national gas price ($3.62 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 $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.