This is the question posed on CityNerd video titled “Walkable Cities But They Keep Getting More Affordable”
If you ditched your car, could you afford to leave the suburbs for a great urban neighborhood?
Ray Delahanty answers the question in the 26 biggest US cities.
The analysis assumes the all-in cost of owning and operating a car is $1,000 per month, including purchase, insurance, fuel, and maintenance.
In the city, transportation costs might total about $250 per month for transit passes, biking, ride-hailing, and other small expenses.
This results in an effective $750 per month increase in the housing budget for city center residents who do not own a car.
The results of the video are quite interesting, as you can get more m² in walkable areas in most cities
You missed my point. It’s trying to state you can offset the higher cost of living in one of those areas because your saving $1000 a month by not owning a car. That $1000 a month figure is bullshit. So is the cost difference between living in a walkable city vs outside of one only being $1000 in many places. Like a small home in the walkable area of Kansas City is around $400,000, while a similar home 10 miles away is $200,000. That’s a lot more than a grand a month difference if you’re getting a mortgage. Like twice as much.