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USA Today
6 days ago
- Automotive
- USA Today
Should you buy that car? It makes sense to own one in these cities.
Should you buy that car? It makes sense to own one in these cities. Show Caption Hide Caption How Trump's tariffs will effect everyday prices With new tariffs on imports, several everyday goods are likely to become more expensive for American consumers. Cars and auto parts, many of which are produced through an integrated North American supply chain, will see price increases as manufacturers adjust to higher costs. unbranded - Newsworthy Own a car, or use public transit? It's a classic debate full of trade-offs. For most Americans, quicker commutes and the convenience of car ownership outweigh the pros of using public transit. But that comfort often comes at a steep price, averaging around $8,137 per year when factoring in fuel, insurance, maintenance, and parking, according to a study by Point2Homes, a resource for renters that publishes market research. For the average homeowner, that's 8% of their income, but for the average renter, it's 15%, the study found. Meanwhile, public transit costs commuters on average less than $1,000 per year — a more than $7,000 annual difference, the study's author Andra Hopulele notes. 'This financial imbalance underscores how transit affordability can play a key role in household budgeting, particularly for lower- and middle-income renters,' Hopulele told USA TODAY. 'The tradeoff is clear: significant cost savings versus modest time gains. For budget-conscious commuters, especially renters, public transit can offer meaningful financial relief.' More: Used car prices hit record highs in 2025: What buyers need to know Debating buying a car versus sticking to the bus route and metro system? Here's what to know: Where ditching the car saves the most money Commuters can save thousands by ditching cars in some of the nation's most well-known cities, according to the study. Four of the top five cities where ditching a car will save more than $7,000 are in California. They are: San Francisco, where commuters save an average of $10,188 New York, where commuters save an average of $9,538 San Diego, where commuters save an average of $8,676 Los Angeles, where commuters save an average of $8,436 Boston, where commuters save an average of $8,195 Washington, where commuters save an average of $8,078 Philadelphia, where commuters save an average of $7,983 Jacksonville, Florida, where commuters save an average of $7,662 San Jose, California, where commuters save an average of $7,488 Chicago, where commuters save an average of $7,362 Where owning a car saves the most time While saving money is always nice, for some Americans, time is money. Point2Homes calculated the average amount of time drivers save on their work commutes in each city by subtracting the average car commute times from the average public transit commute times Americans reported in the Census American Community Survey. Two California cities where opting for public transit saves consumers some of the most money also rank in the top 10 of places where owning a car saves Americans the most time on their way to and from work. They are: Las Vegas, where commuters save an average of 52.3 minutes per day and 9.1 days per year San Jose, where commuters save an average of 50.8 minutes per day and 8.9 days per year El Paso, Texas, where commuters save an average of 46.8 minutes per day and 8.2 days per year Fort Worth, Texas, where commuters save an average of 44.4 minutes per day and 7.8 days per year San Antonio, where commuters save an average of 42.3 minutes per day and 7.4 days per year Phoenix, where commuters save an average of 41.3 minutes per day and 7.2 days per year Detroit, where commuters save an average of 40.5 minutes per day and 7.1 days per year Indianapolis, where commuters save an average of 39.2 minutes per day and 6.9 days per year San Diego, where commuters save an average of 38.9 minutes per day and 6.8 days per year Columbus, Ohio, where commuters save an average of 37.3 minutes per day and 6.5 days per year Reach Rachel Barber at rbarber@ and follow her on X @rachelbarber_
Yahoo
6 days ago
- Automotive
- Yahoo
Should you buy that car? It makes sense to own one in these cities.
Own a car, or use public transit? It's a classic debate full of trade-offs. For most Americans, quicker commutes and the convenience of car ownership outweigh the pros of using public transit. But that comfort often comes at a steep price, averaging around $8,137 per year when factoring in fuel, insurance, maintenance, and parking, according to a study by Point2Homes, a resource for renters that publishes market research. For the average homeowner, that's 8% of their income, but for the average renter, it's 15%, the study found. Meanwhile, public transit costs commuters on average less than $1,000 per year — a more than $7,000 annual difference, the study's author Andra Hopulele notes. 'This financial imbalance underscores how transit affordability can play a key role in household budgeting, particularly for lower- and middle-income renters,' Hopulele told USA TODAY. 'The tradeoff is clear: significant cost savings versus modest time gains. For budget-conscious commuters, especially renters, public transit can offer meaningful financial relief.' More: Used car prices hit record highs in 2025: What buyers need to know Debating buying a car versus sticking to the bus route and metro system? Here's what to know: Commuters can save thousands by ditching cars in some of the nation's most well-known cities, according to the study. Four of the top five cities where ditching a car will save more than $7,000 are in California. They are: San Francisco, where commuters save an average of $10,188 New York, where commuters save an average of $9,538 San Diego, where commuters save an average of $8,676 Los Angeles, where commuters save an average of $8,436 Boston, where commuters save an average of $8,195 Washington, where commuters save an average of $8,078 Philadelphia, where commuters save an average of $7,983 Jacksonville, Florida, where commuters save an average of $7,662 San Jose, California, where commuters save an average of $7,488 Chicago, where commuters save an average of $7,362 While saving money is always nice, for some Americans, time is money. Point2Homes calculated the average amount of time drivers save on their work commutes in each city by subtracting the average car commute times from the average public transit commute times Americans reported in the Census American Community Survey. Two California cities where opting for public transit saves consumers some of the most money also rank in the top 10 of places where owning a car saves Americans the most time on their way to and from work. They are: Las Vegas, where commuters save an average of 52.3 minutes per day and 9.1 days per year San Jose, where commuters save an average of 50.8 minutes per day and 8.9 days per year El Paso, Texas, where commuters save an average of 46.8 minutes per day and 8.2 days per year Fort Worth, Texas, where commuters save an average of 44.4 minutes per day and 7.8 days per year San Antonio, where commuters save an average of 42.3 minutes per day and 7.4 days per year Phoenix, where commuters save an average of 41.3 minutes per day and 7.2 days per year Detroit, where commuters save an average of 40.5 minutes per day and 7.1 days per year Indianapolis, where commuters save an average of 39.2 minutes per day and 6.9 days per year San Diego, where commuters save an average of 38.9 minutes per day and 6.8 days per year Columbus, Ohio, where commuters save an average of 37.3 minutes per day and 6.5 days per year Reach Rachel Barber at rbarber@ and follow her on X @rachelbarber_ This article originally appeared on USA TODAY: Should you buy a car? It makes sense to own one in these cities. Sign in to access your portfolio
