Transit Access Helps City Residents Save Money

Rent or a mortgage payment, and the cost of transportation (including, for many families, a car payment, insurance, maintenance, and gas) tend to go head-to-head as the largest household expense. Experts suggest that no more than 45 percent of a household's total income should be eaten up by these two expenses. Yet rising costs mean many families are stretched beyond their means just to put a roof over their heads and get around.

The good news for people with access to a bus, subway or El line is that studies show transit can significantly improve the bottom line for families - yet another reason Reconnecting Neighborhoods is working to ensure mixed-income neighborhods have quality transit options.

The Center for Neighborhood Technology, a national nonprofit based right here in Chicago, recently posted a Housing + Transportation map of the Chicago region on their Web site, which shows that families living in the City of Chicago are more likely to spend 45 percent of their income or less on transportation and housing costs than families living in the suburbs.

That may come as a surprise to those who think it's impossible to find an affordable home in the city. But, even if families moving to the suburbs are saving money on their housing costs, many are finding that a lack of access to transit combined with the need to drive long distances to run errands and go to work is completely eroding the dollars saved on their rent or mortgage.