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Quote
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Notes"… between 2000 and 2009, U.S. transportation and housing costs increased at nearly twice the rate of incomes. But the good news… is that people living in “location efficient” neighborhoods—those with good access to transit, jobs, and amenities—experienced only half the increase in transportation costs ($1,400/year) of those living in car-dependent places ($3,900/year). This means more expensive housing may actually be the more affordable option, if that housing exists in the right place."A paragraph from the Atlantic Cities article, ‘How More Expensive Housing Can Actually Cost You Less’, which highlights the growing economic benefits of living in walkable/ “location efficient” neighborhoods.
The website for the ‘Housing and Transportation Affordability Index’ explains that:
People who live in location inefficient places are auto-dependent, have high transportation costs, and are more susceptible to fluctuations in gas prices.
This trend is projected to only get stronger (e.g. here, here, and here) as gas prices rise in response to the “the end of the petroleum era.”
(Graphic credit: The Housing + Transportation Affordability Index)
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