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Smart Growth Saves on Combined Costs of Transportation and Housing

Smart Growth Saves on Combined Costs of Transportation and Housing. The Transportation + Housing Connection. Our Rate of Driving Grew Three Times Faster than Population. How Much Does it Cost to Drive?. American Automobile Association Vehicle Cost Estimates (2009).

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Smart Growth Saves on Combined Costs of Transportation and Housing

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  1. Smart Growth Saveson Combined Costs of Transportation and Housing

  2. The Transportation + Housing Connection

  3. Our Rate of Driving Grew Three Times Faster than Population

  4. How Much Does it Cost to Drive? American Automobile Association Vehicle Cost Estimates (2009)

  5. 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).

  6. 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. Source: Cortwright, Joseph. “Driven Apart” September 2010

  7. 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.

  8. Transportation Costs Reduce Affordability

  9. Transportation Costs ReduceAffordability of Suburbs

  10. 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)

  11. Transportation CostsHurt Working Families

  12. Smart Growth SavesTransportation Costs

  13. 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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