The American Public Transportation Association (APTA) wants to save you $9,023 in 2017. We're also thinking a lot more than money. Less stress and more "me time".
The annual savings is $9,712 for a person who switches his or her daily commute by car to taking public transportation, according to the American Public Transportation Association's (APTA) December Transit Savings Report. Individuals who ride trains and buses instead of driving can save, on average, more than $752 per month in Dallas.
These savings are based on the cost of commuting by public transportation compared to the cost of owning and driving a vehicle. These costs include the Dec. 21, 2016, national average gas price ($2.25 per gallon, as reported by AAA) and the national unreserved monthly parking rate.
APTA released 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 latest report of the 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 top 20 cities with the highest public transit ridership are ranked in order of their transit savings based on the purchase of a monthly public transit pass. The savings also factor in local gas prices for Dec. 21, 2016, and the local monthly unreserved parking rate.*
And we haven't touched on the cost savings of less stress by avoiding traffic hassles. That's fewer blood pressure pills, headache remedies and gives you more "me time" to text, read or just relax on your journey. Even if you can't use public transportation every day you can still reap the benefits and save.
Public transit can give you a head start on your New Year's resolution to save money when you make it a part of your work commute.