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
If you’re paying $1,000 a month for your car, you have money to burn, or you have a terrible driving record and your insurance is absurd. We have two cars, each with a monthly payment of less than $300, and our combined insurance is $450 and includes two life insurance policies.
There’s no way we could afford to move into the city. First, there are more jobs out here. Second, the public schools are so much better than in the city. Third, we have space for dogs, a garage with bikes, a fenced-in yard and a creek.
I lived in the city for 10 years, and I do miss it. I miss commuting on my bike. I miss being able to take the subway home after a night of drinking. I miss walking to the corner bodega for the best fucking potato salad anywhere.
But when we moved to the burbs, the rent was $1,600 a month for our two bedroom apartment. The exact same apartment is now $3,000 a month in rent, which is more than my mortgage payment for a 4 bed, 2.5 bath on 2 acres (bought in 2018, before rates went to absolute shit).
The point is, I can’t afford to move anywhere because the cost of living everywhere is too high. For us, it doesn’t make financial sense not to have a car.
Because that’s how they want it.
There are unfortunately so many American metro areas like the one you’re describing: poor public services in city vs suburbs, more jobs in suburbs, cheaper housing. Its definitely not a natural law of the universe but a result of short-sighted, racist, classist planning and development, and it forces lots of people to live in the burbs even if they’d rather not.
I do want to push back on the monthly car cost a bit. You didn’t factor in gas, maintenance, repairs, etc in your own estimate of your car cost. Those really add up and would probably push you closer to the $1000/month/car mark.
Also, your insurance rate seems extremely low. I’m happy for you, but I think you might be an outlier.