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Attachment V 25 Attachment 2: Transportation Costs and Housing Affordability An Analysis by the Transportation Advisory Board The proposed definition of affordable housing, i.e. "housing that is valued at less than 80% of AMI" is not sufficiently inclusive. It must include transportation costs associated with housing location. • According to AAA's annual Your Driving Costs, the average American spends $8,946 a year to own, operate, insure and maintain one sedan car or nearly $750 /month per car. • The average cost per mile driven is 59.6 cents'. According to the 2009 National Household Travel Survey, the average household made 9.5 trips per day, with an average trip distance of 9.7 miles2. To illustrate the import of considering household -level transportation costs, consider the following scenarios: ■ The average American household making 9.5 trips per day, driving 9.7 miles each trip, will drive 92 miles driven per day at a cost of $0.596 per mile, which is about $55 a day or $1,650 a month ($55 x 30 days). ■ A plausible no car alternative in a two - worker household might involve purchasing two 31 -day regional passes from TTA for $68 x 2 = $136; renting a car an average of four days a month from Enterprise = $52.64 x 4 = $210.563; and keeping two bikes maintained at an average cost of $60 /month. Monthly transportation costs = ($136 + $210.56 + $60) = $436.56. • The hidden cost of residential parking directly impacts people living in condo and apartment housing. Carrboro's Land Use Ordinance requires an average of 1.5 car parking spaces per bedroom and 2 spaces per unit with two of more bedrooms4. Yet, one in 10 households in Carrboro have no vehicle available (this figure is more than 15 percent for single - person households and more than 13 percent for 4 -or- more - person households). This has implications for projects like Shelton Station, where the increase in housing unit cost per parking space will range from $50,000 and $70,0006. Unbundling parking costs from 1 http: / /newsroom.aaa.com /tag /your- driving- costs/ z http: / /nhts.ornI.gov /2009 /pub /stt.pdf 3 http: / /www. enterprise.com/ car_ rental /location.do ?selected Location Id= 5330 &transaction Id =We bTransaction1 4 http: // www. townofcarrboro.org /PZI /PDFs /LUO /Art- xviii.pdf 5 http: / /factfinder2. census .gov /faces /tableservices /jsf/ pages /p rod uctview.xhtmI ?fpt =table 6 Greenberg, A. (2005). How new parking spaces may effectively increase typical U.S. urban housing total unit costs by $52,000 to $117,000. Paper presented at the 84th TRB Annual Meeting. Page 1 11