Deciding to use public transit can save more than $9,000 annually. According to the American Public Transportation Association (ATPA), its latest “Transit Savings Report” shows individuals save on average $9,381 annually by parking the car and taking public transportation. The report reveals that the savings add up to nearly $800 per month based on the current average national gas price of $2.78 a gallon. The ATPA examines how an individual in a two-person household can save money by using one less vehicle. The report also shows that individuals can save on average about $1,850 a year in parking costs.
The top five cities with the highest transit ridership and ranked in order of their transit savings are New York City with a nearly $14,000 annual savings; Boston at $12,478 savings; San Francisco ($12,358); Chicago ($11,511); and rounding out the top five with Seattle ($11,429). For more on the Transit Savings Report, visit www.apta.com.