Forbes has complied a list of cities that have the most expensive commutes in the nation; some siphon 20% of income!!
Transit costs such as gas, tolls and public transit fare, as well as money spent on car payments and maintenance make commutes expensive. Topping the list is Houston, Texas with 20.9 percent of expenses that are spent on transportation!! Cities that follow are Cleveland, Detroit, Tampa and Kansas City with 20.2 % - 20.5 % of income dedicated to transportation.
According to the study conducted, there are several factors that attribute to these large transportation costs in these cities. One is the fact that they do not have a train system. The study found that there is a very high correlation between cities that had extensive train systems and those in which households spent the least on transportation costs. It also appears that the cities with the higher commutes tend to have lower housing costs. So on the reverse side, it is understood that the least costly commutes tend to be accompanied by high housing costs.
Here are the stats:
|
Rank |
City |
Percent of expenses spent on transportation |
|
1 |
|
20.9 |
|
2 |
|
20.5 |
|
3 |
|
20.5 |
|
4 |
|
20.4 |
|
5 |
|
20.2 |
Souce: Forbes.com
Tags: cities, follow, having, housing, money, nation, top
This entry was posted on Wednesday, August 29th, 2007 at 8:15 am and is filed under ForRent.com-Nation's Leading Apartment Resource. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.
