Riding public transit saves individuals $9,190 annually

Individuals who ride public transportation can save on average $9,190 annually based on the November 9, 2009 national average gas price and the national unreserved monthly parking rate. Over the last year, an individual riding public transportation would have saved an additional $255 due to the 41-cent increase of gasoline per gallon since November 2008.

"The Transit Savings
Report" released monthly by the American Public Transportation Association 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.

Transit riders can save
on average $766 per month. The savings amount is based on the cost of the
national averages for parking and driving, as well as the November 9 national
average gas price of $2.664 per gallon for self-serve regular gasoline as
reported by AAA. Since last month the cost of a gallon of gasoline has
increased 19 cents.  This is an increase in savings that equates to an
additional $21 per month.

Taking public
transportation provides a safe and affordable way for individuals and families
to cut costs, according to APTA. In addition, local public transit offers a
travel option that has an immediate positive impact in reducing an individual’s
overall carbon footprint while helping reduce America’s dependence on foreign
oil.

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.

APTA calculates the
average cost of taking public transit by determining the average monthly
transit pass of local public transit agencies across the country. This
information is based on the annual APTA fare collection survey and is weighted
based on ridership (unlinked passenger trips). The assumption is that a person
making a switch to public transportation would likely purchase an unlimited
pass on the local transit agency, typically available on a monthly basis.

APTA then compares the
average monthly transit fare to the average cost of driving. The cost of
driving is calculated using the 2009 AAA average cost of driving formula. AAA
cost of driving formula is based on variable costs and fixed costs. The
variable costs include the cost of gas, maintenance and tires. The fixed costs
include insurance, license registration, depreciation and finance charges. The
comparison also uses the average mileage of a mid-size auto at 23.4 miles per
gallon and the price for self-serve regular unleaded gasoline as recorded by
AAA on November 9 at $2.664 per gallon. The analysis also assumes that a person
will drive an average of 15,000 miles per year. The savings assume a person in
a two-person household lives with one less car.

In determining the cost of
parking, APTA uses the data from the 2009 Colliers International Parking Rate
Study for monthly unreserved parking rates for the United States.