15 Biggest Cities With the Cheapest Transportation Costs
It’s an expense we may not always think about when we consider the cost of living in any particular location, but for most people, it’s a big factor: transportation. The annual cost per person in 2023 was $12,295, according to the U.S. Department of Transportation.
As with just about every other cost-of-living expense, how much you’ll pay on transportation largely depends on where you live. So, which are the cities with the lowest transportation costs? To find out, GOBankingRates identified the top 100 major cities by population, using the U.S. Census American Community Survey, and then found the ones with the cheapest transportation costs.
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San Antonio, Texas
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Virginia Beach
Household median income: $87,544
Average annual mortgage cost: $18,784
Total average cost of living annually: $41,869
Average monthly transportation cost: $568
Average annual transportation cost: $6,815
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Charlotte, North Carolina
Household median income: $74,070
Average annual mortgage cost: $29,401
Total average cost of living annually: $52,995
Average monthly transportation cost: $566
Average annual transportation cost: $6,794
Tucson, Arizona
Household median income: $52,049
Average annual mortgage cost: $24,434
Total average cost of living annually: $47,111
Average monthly transportation cost: $560
Average annual transportation cost: $6,718
Oklahoma City
Household median income: $64,251
Average annual mortgage cost: $14,860
Total average cost of living annually: $38,525
Average monthly transportation cost: $553
Average annual transportation cost: $6,641
Colorado Springs
Household median income: $79,026
Average annual mortgage cost: $33,343
Total average cost of living annually: $55,941
Average monthly transportation cost: $551
Average annual transportation cost: $6,613
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Memphis, Tennessee
Household median income: $48,090
Average annual mortgage cost: $10,786
Total average cost of living annually: $33,733
Average monthly transportation cost: $548
Average annual transportation cost: $6,572
El Paso, Texas
Household median income: $55,710
Average annual mortgage cost: $16,063
Total average cost of living annually: $38,595
Average monthly transportation cost: $533
Average annual transportation cost: $6,391
Indianapolis
Household median income: $59,110
Average annual mortgage cost: $16,789
Total average cost of living annually: $39,452
Average monthly transportation cost: $526
Average annual transportation cost: $6,314
Columbus, Ohio
Household median income: $62,994
Average annual mortgage cost: $19,023
Total average cost of living annually: $41,888
Average monthly transportation cost: $522
Average annual transportation cost: $6,266
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Tulsa, Oklahoma
Household median income: $56,648
Average annual mortgage cost: $15,052
Total average cost of living annually: $38,119
Average monthly transportation cost: $520
Average annual transportation cost: $6,238
Albuquerque, New Mexico
Household median income: $61,503
Average annual mortgage cost: $24,046
Total average cost of living annually: $45,876
Average monthly transportation cost: $518
Average annual transportation cost: $6,217
Kansas City, Missouri
Household median income: $65,256
Average annual mortgage cost: $17,398
Total average cost of living annually: $40,614
Average monthly transportation cost: $514
Average annual transportation cost: $6,168
Raleigh, North Carolina
Household median income: $78,631
Average annual mortgage cost: $32,647
Total average cost of living annually: $55,706
Average monthly transportation cost: $513
Average annual transportation cost: $6,161
Omaha, Nebraska
Household median income: $70,202
Average annual mortgage cost: $20,548
Total average cost of living annually: $44,250
Average monthly transportation cost: $473
Average annual transportation cost: $5,681
Methodology: GOBankingRates analyzed the top 50 major US cities by population to find the cheapest transportation costs. First GOBankingRates found the top 100 major cities by population using the U.S. Census American Community Survey, and found factors including total population, total households and household median income. The cost-of-living indexes were sourced from Sperling’s BestPlaces, and the average expenditure costs for all residents were sourced from the Bureau of Labor Statistics Consumer Expenditure Survey, including the transportation costs for ‘gasoline, other fuels and motor oil’ and ‘other vehicle expenses.’ The average single family household value for May 2024 was found from Zillow Home Value Index and the average mortgage cost was calculated using the national 30-year fixed mortgage rate as sourced from the Federal Reserve Economic Data. Using the mortgage and expenditure costs, the monthly and annual total cost of living were calculated. The transportation costs were sorted to show the largest major cities with the cheapest transportation cost. All data was collected on and is up to date as of July 8, 2024.
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This article originally appeared on GOBankingRates.com: 15 Biggest Cities With the Cheapest Transportation Costs