Smart Growth Saves on Combined Costs of Transportation and Housing.
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Transcript of Smart Growth Saves on Combined Costs of Transportation and Housing.
Smart Growth Saveson Combined Costs of
Transportation and Housing
Our Rate of Driving Grew Three Times Faster than Population
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How Much Does it Cost to Drive?Small Sedan
Medium Sedan
Large Sedan
SUV Van
Gas & Oil 8.21¢ 10.54¢ 11.51¢ 14.39¢ 12.16¢
Maintenance 4.26¢ 4.51¢ 4.92¢ 4.94¢ 4.87¢
Tires 0.61¢ 0.87¢ 0.82¢ 0.95¢ 0.74¢
Total Operating Costs per Mile per Year
13.08¢ 15.92¢ 17.25¢ 20.28¢ 17.77¢
Insurance $948 $957 $1022 $948 $897
License & Registration $419 $572 $711 $727 $602
Depreciation (new vehicle)
$2,430 $3,401 $4,551 $4,619 $3,818
Financing (new vehicle) $553 $786 $998 $1023 $832
Ownership Costs/Year $4,350 $5,716 $7,282 $7,317 $6,149
Total for 12,500 Annual Miles $5,985 $7,706 $9,438 $9,852 $8,370
Average Cost Per Mile $0.35 $0.46 $0.58 $0.59 $0.49
American Automobile Association Vehicle Cost Estimates (2009)4
Traffic Delays Add to Transportation Costs
In 2007, the amount of time and fuel that Americans wasted in traffic was worth an estimated $87.2 billion.– 2.8 billion gallons of wasted fuel (enough to fill
370,000 18-wheeler fuel delivery trucks bumper-to-bumper from Houston to Boston to Los Angeles)
– 4.2 billion hours of wasted time (equivalent to 105 million weeks of vacation).
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Growing Distances Add to Transportation Costs
Another way to look at the impact of regional development patterns on household costs is additional commuting time resulting from a region’s lower density.
Additional hours of travel, per capita per year
Additional cost, per capita per year
New York-Newark (NY-NJ-CT ) 3 $361
Philadelphia (PA-NJ-DE-MD) 14 177
Pittsburgh (PA) 22 (27)
Baltimore (MD) 26 344
Washington (DC-VA-MD) 61 693Source: Cortwright, Joseph. “Driven Apart” September 2010
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Transportation CostsAre a Big Portion of Household
Budgets• The average household spends 51% of income on the
combined costs of housing & transportation; both costs are increasing.
• The average household spends 19% of income on transportation. – Households in auto-dependent neighborhoods spend 25%
on transportation. – Households with good transit access spend only 9%.
• This savings can be critical for low-income households: – Very-low-income households spend 55% of income or
more.
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Transportation Costs Reduce Affordability
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Transportation Costs ReduceAffordability of Suburbs
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Transportation Costs ReduceNumber of Affordable Communities“Seven out of ten communities (69%) are considered affordable under the traditional definition of housing costs at 30% of income. That shrinks, however, to just four out of ten (39%) when both housing and transportation costs are considered and a 45% affordability benchmark is applied.”Pennywise, Pound Fuelish, New Measures of Housing + Transportation Affordability, Center for Neighborhood Technology (2010)
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Transportation CostsHurt Working Families
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Smart Growth SavesTransportation Costs
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Smart Growth Saves MoneyBy Reducing Transportation Costs
• Portland, Oregon: a 4-mile reduction in VMT per capita when compared to the national average translates into an estimated $2.6 billion in regional household savings on transportation and time costs.
• Chicago: A 2.1-mile reduction in VMT when compared to the national average translates into household savings of $5.5 billion on transportation and time costs.
• If the 51 metropolitan areas in the US were to decrease their VMT per capita by just 1 mile per day, the estimated personal savings to households in fuel and maintenance alone would amount to nearly $29 billion a year.
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