December 16, 2012 2 Comments
Given last week’s post about Grady Ranch, it might be good to have a refresher on just how expensive car commuting actually is. A bit over a year ago I posted this piece on the aggregate cost of driving alone to work, and it bears repeating.
Originally posted on The Greater Marin:
Marin’s commuting workforce travels quite a distance for work, 11.5 miles each way on average, thanks in part to its relatively suburban character. Although most would say such a commute isn’t terrible, commuting even that far is a massive financial loss to everyone involved, and Marin’s economy suffers for it.
Financial blogger Mr. Money Mustache recently penned a fantastic piece on the true cost of commuting (which I truly recommend) and found that an 18 mile commute, roughly from downtown San Rafael to Market Street, costs around $75,000 over the course of a decade and wastes roughly 1.3 working years of time. He factors in the IRS cost of $0.51 per mile in car depreciation, gas, and the like and assumes that it could be reinvested at about 5% interest. This is crazy, and that’s just for one person.