APTA: Riding public transportation saves $10,126 a year
Making the switch from driving to taking public transit can save individuals thousands of dollars annually as high gas prices continue. According to the American Public Transportation Association’s (APTA) April Transit Savings Report, individuals who ride public transportation instead of driving can save, on average, $844 this month, and $10,126 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 April 16 average national gas price ($3.91 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 $1,863.