Not long ago, figures released from the Housing + Transportation Affordability index, revealed that far from saving money, moving to the suburbs is actually costing us considerably more than inner city living.
According to the Index, in the last decade alone, transportation costs have increased, on average by $1,400 per year in the ’burbs, though in some, heavily dependent locations the jump has been as much as $3,900. The difference in transportation costs in areas that are well connected, such as major urban centers and those that are more isolated (outer suburbs) has grown to be around $200 per month.
These figures were released earlier this year in February, when the Center for Neighborhood Technology expanded the Housing + Transportation index to encompass 874 so called metropolitan and micropolitan areas in the United States, which are home to around 89 percent of the country’s population.
With statistics like that, could we see a reverse of migration trends in the coming years, with people returning to cities instead of leaving downtown cores, much as they did in the 19th and early 20th centuries? One thing ‘s for certain; history, whether we chose to learn from it or ignore it, does have an annoying tendency to repeat itself.