Could some of the most in-demand housing markets be cooling off?
Study: Difference in transportation costs – suburban vs. urban communities
The Center for Neighborhood Technology released new data from a study comparing transportation costs in different neighborhoods of 20 U.S. metros.
study, annual transportation costs, 20 metros, difference, average
The Center for Neighborhood Technology released new data from a study comparing transportation costs in different neighborhoods of 20 U.S. metros. CNT divided each metro into three sections based on the transportation efficiency of a neighborhood — the most location-efficient neighborhoods are highly walkable and/or feature strong public transit systems; the least-efficient neighborhoods are more spread out and residents are more dependent on cars to get around.
Below is a list of the 20 metros ranked by the difference in transportation costs between the least- and most location-efficient neighborhoods of each, from greatest to least:
1. New York - $10,860
2. Boston - $8,600
3. San Francisco - $8,043
4. Chicago - $7,466
5. Washington D.C. - $6,850
6. Twin Cities - $6,481
7. St. Louis - $5,694
8. Grand Rapids, Mich. - $5,484
9. Charlottesville, Va. - $5,352
10. Cincinnati - $5,283
11. Denver - $5,089
12. Los Angeles - $4,988
13. Atlanta - $4,978
14. Dallas-Ft. Worth - $4,650
15. Olympia, Wash. - $4,347
16. Fayetteville, Ark. - $4,199
17. Phoenix - $4,038
18. Salt Lake City - $3,979
19. El Paso, Texas - $3,621
20. Asheville, N.C. - $3,493
Data was also collected on average annual housing costs in each metro. Those figures were combined with the transportation numbers and evaluated as a percentage of each metro’s average median income.
To see the full chart, click here.