This is the question posed on CityNerd video titled “Walkable Cities But They Keep Getting More Affordable”
If you ditched your car, could you afford to leave the suburbs for a great urban neighborhood?
Ray Delahanty answers the question in the 26 biggest US cities.
The analysis assumes the all-in cost of owning and operating a car is $1,000 per month, including purchase, insurance, fuel, and maintenance.
In the city, transportation costs might total about $250 per month for transit passes, biking, ride-hailing, and other small expenses.
This results in an effective $750 per month increase in the housing budget for city center residents who do not own a car.
The results of the video are quite interesting, as you can get more m² in walkable areas in most cities
Well we do live in a city neighborhood and don’t have to drive much.
Car insurance on two cars not used daily $400/month here, gas immaterial. But the cost of the cars (paid off) was so much money, if spread over a 15 year life (mine will go longer maybe, but that’s unusual) would add another $125 each, so $650 plus gas and maintenance (less maintenance cost because cars were bought pretty new).
My daily commuter is a good electric bike, $2,000 plus electricity (I could charge it at work tho) and maintenance. I don’t know how long they last, so can’t estimate a per month but insurance for a year costs less than one car costs for a month.
Transit pass here about $50 a month. But buses are terribly infrequent.