Saturday 7 August 2021

These US cities have the most expensive commutes, with some costing workers more than $10,000 a year

The Chicago waterfront in the foreground with the skyline in the background
Chicago.
  • These US cities have the costliest commutes, according to a new analysis from LendingTree.
  • Workers in 6 of these cities lose more than $10,000 a year from their commutes, the analysis says.
  • The new findings come as many companies weigh plans to bring workers back to the office again.
  • See more stories on Insider's business page.

Many companies are working on plans to bring their employees back to the office. When they do, some workers will once again be paying a hefty price for their commutes.

Millions of Americans, in fact, will lose more than $10,000 a year getting to and from work, according to a new analysis from LendingTree.

Read more: Employers are waging a war over work from home. WFH is winning.

Researchers gathered commute times for the 100 biggest US cities by total workers from the Census Bureau's 2019 1-year American Community Survey, the latest available federal data.

The analysts then used Census Bureau data to estimate the average hourly earnings in these cities. When they multiplied this by the commute time, they were able to calculate these commutes' opportunity costs, which is the value of the alternative activities for which people could have used the time instead, such as sleeping in or being on the clock.

Here are the cities where American workers have the highest yearly opportunity costs for their commutes:

1. Fremont, California
Fremont Ca

Median full-time earnings: $95,221

Average round-trip commute time: 73 minutes

Daily cost of commute: $60

Annual cost of commute: $15,065

2. San Francisco
golden gate bridge

Median full-time earnings: $90,475

Average round-trip commute time: 69 minutes

Daily cost of commute: $52

Annual cost of commute: $13,067

3. Jersey City, New Jersey
Jersey City

Median full-time earnings: $67,146

Average round-trip commute time: 76 minutes

Daily cost of commute: $42

Annual cost of commute: $10,645

4. Washington, D.C.
capitol building washington dc

Median full-time earnings: $80,445

Average round-trip commute time: 63 minutes

Daily cost of commute: $42

Annual cost of commute: $10,642

5. Arlington, Virginia
arlington virginia

Median full-time earnings: $86,640

Average round-trip commute time: 59 minutes

Daily cost of commute: $42

Annual cost of commute: $10,427

6. New York
New York City skyline

Median full-time earnings: $57,224

Average round-trip commute time: 83 minutes

Daily cost of commute: $41

Annual cost of commute: $10,319

7. San Jose, California
san jose california

Median full-time earnings: $71,323

Average round-trip commute time: 63 minutes

Daily cost of commute: $39

Annual cost of commute: $9,852

8. Seattle
seattle city skyline

Median full-time earnings: $81,290

Average round-trip commute time: 57 minutes

Daily cost of commute: $39

Annual cost of commute: $9,829

9. Irvine, California
irvine california

Median full-time earnings: $90,979

Average round-trip commute time: 48 minutes

Daily cost of commute: $38

Annual cost of commute: $9,566

10. Oakland, California
oakland california

Median full-time earnings: $62,101

Average round-trip commute time: 69 minutes

Daily cost of commute: $37

Annual cost of commute: $9,214

11. Boston
boston skyline
A view of downtown Boston from the Evelyn Moakley Bridge, Thursday, May 19, 2016, in Boston.

Median full-time earnings: $65,038

Average round-trip commute time: 62 minutes

Daily cost of commute: $35

Annual cost of commute: $8,865

12. Chicago
The Chicago waterfront in the foreground with the skyline in the background
Chicago.

Median full-time earnings: $53,348

Average round-trip commute time: 71 minutes

Daily cost of commute: $32

Annual cost of commute: $8,060

13. Gilbert, Arizona
Gilbert Arizona

Median full-time earnings: $61,833

Average round-trip commute time: 58 minutes

Daily cost of commute: $30

Annual cost of commute: $7,640

14. Plano, Texas
Plano, Texas

Median full-time earnings: $65,554

Average round-trip commute time: 53 minutes

Daily cost of commute: $29

Annual cost of commute: $7,249

15. Atlanta
Atlanta, Georgia

Median full-time earnings: $62,221

Average round-trip commute time: 56 minutes

Daily cost of commute: $29

Annual cost of commute: $7,164

16. Portland, Oregon
Portland Oregon

Median full-time earnings: $60,043

Average round-trip commute time: 53 minutes

Daily cost of commute: $28

Annual cost of commute: $6,953

17. Philadelphia
Philadelphia skyline

Median full-time earnings: $45,844

Average round-trip commute time: 69 minutes

Daily cost of commute: $27

Annual cost of commute: $6,870

18. Baltimore
Baltimore

Median full-time earnings: $49,945

Average round-trip commute time: 63 minutes

Daily cost of commute: $27

Annual cost of commute: $6,802

19. Los Angeles
los angeles skyline

Median full-time earnings: $46,154

Average round-trip commute time: 66 minutes

Daily cost of commute: $27 

Annual cost of commute: $6,689

20. Denver
denver
Denver, Colorado.

Median full-time earnings: $58,886

Average round-trip commute time: 54 minutes

Daily cost of commute: $27

Annual cost of commute: $6,659

Read the original article on Business Insider


from Business Insider https://ift.tt/3AlsGZT

No comments:

Post a Comment

The Hezbollah pager attacks reveal a textbook covert operation, ex-spies say

Lebanese army explosives experts work on preparing the site to explode a walkie-talkie that they found thrown away a day after several devi...