New Report by CNT Shows High Cost of Long Commutes; Savings for Homes near Transit and in Walkable Communities
COALITION FOR SMARTER GROWTH PRESS RELEASE
For Immediate Release
March 24, 2010
Contact
Stewart Schwartz, CSG, 703-599-6437
stewart@smartergrowth.net
For Center for Neighborhood Technology:
Paula Chrin Dibley, 202-478-6138
PCHRIN@MRSS.COM
Ben Grossman-Cohen, 202-478-6185
BGROSSMAN-COHEN@MRSS.COM
New Report by CNT Shows High Cost of Long Commutes
Savings for Homes near Transit and in Walkable Communities
Maps Allow Analysis of Combined Costs Down to the Census Block Level
Houses in the outer suburbs and far from work are not as affordable as many think. When transportation costs, the second highest household expense are factored in, outer suburban and rural homes result in much higher household costs and financial strains on families. That’s the finding of the most comprehensive study to date of the combined costs of housing and transportation in thousands of neighborhoods across the country. Please see the links to the report below.
“The 2007 gas price spike showed the high cost of transportation for those with long commutes – adding to the foreclosure problem in the outer suburbs Maryland and Virginia and metropolitan areas across the county. Fortunately, the DC region’s investments in transit – Metro, VRE, MARC, bus – and revitalization of urban and older suburban areas to create walkable, mixed-use communities, means that we have many neighborhoods where transportation costs and the combined costs of housing and transportation are lower,” said Stewart Schwartz, Executive Director of the Coalition for Smarter Growth.
Many metropolitan areas in Virginia and Maryland show high transportation costs that make many neighborhoods much less affordable. In these communities, where many people have moved far from downtown, the long commutes and driving for errands has meant very high transportation costs.
“Living closer-in, in a walkable, mixed-use neighborhood, and having nearby access to transit can save families a few thousand dollars per year,” said Schwartz. “That means money to keep up with the mortgage, money to save for children’s college education, or money for one’s small business.”
VIRGINIA
- The Bristol, Danville, and Lynchburg regions show 60% to 100% of neighborhoods unaffordable to median income households when transportation costs are factored in.
- Forty percent to sixty percent of neighborhoods in the Charlottesville-Albemarle and Norfolk-Virginia Beach-Newport News regions are unaffordable to median income households when transportation costs are factored in.
- Twenty to forty percent of neighborhoods in the Richmond-Petersburg and Roanoke areas are unaffordable to median income households when transportation costs are factored in.
MARYLAND
- In Maryland, 90-100% of Cumberland area neighborhoods, 60-80% of Hagerstown area neighborhoods, and 20-40% of Baltimore region neighborhoods become less affordable.
DC METRO REGION
- On average, the DC region sees a 0 to 20% reduction in affordable neighborhoods, but the DC area map and fact sheet illustrates vast differences between communities, with transportation costs in a location like Purcellville over $1000 per month compare to $500 per month in DC.
- Areas near Metro, VRE and MARC show lower transportation costs. Places with a mix of housing and jobs in a walkable format will also reduce transportation costs.
H&T Affordability Index Rankings
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