According to the American Public Transportation Association's (APTA) November Transit Savings Report, individuals who switch from driving to riding public transportation can save, on average, $816 dollars this month, and $9,797 annually. These savings are based on the cost of commuting by public transportation compared to the Nov.18, 2011 average national gas price ($3.38 per gallon- reported by AAA) and the national unreserved monthly parking rate. Currently gas prices are nearly 50 cents a gallon higher than this time last year, APTA notes riding public transit is a smart way to lower transportation costs.
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.