APTA: Transit users save $10,502 yearly

According to the American Public Transportation Association’s (APTA) January Transit Savings Report, individuals who ride public transportation instead of driving can save, on average, more than $875 this month, and $10,502 annually.

These savings are based on the cost of commuting by public transportation compared to the cost of owning and driving a vehicle which includes the January 17, 2013 average national gas price ($3.29 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.

To calculate your individual savings, with or without car ownership, go to www.publictransportation.org.