Most readers of this newsletter are probably familiar with the APTA statistic that every $1 invested in public transit yields $5 in economic development. While that national average is impressive, localized data has been harder to come by. Thankfully, a new report from MIT’s Mobility Initiative, The Value of Transit in Seattle and the King County Region, paints a detailed, data-driven picture of what robust transportation investment unlocks. Published in partnership with King County Metro and the Puget Sound Regional Council it underscores the immense economic value of high-quality transit.
According to the report’s models, doubling transit service would be a huge boon for local pockets, saving King County households between $628 and $1,176 per year. To demonstrate just how economically vital King County’s current system is, the researchers also modeled a worst-case baseline: if transit service were cut in half, the cascading damage would saddle King County with $214 million in additional costs, including $20 million in lost regional spending and $1.8 million in vanished tax revenue.
The affordability story within the study deserves attention as well. Seattle has some of the highest housing costs in the country but ranks among the lowest of major U.S. cities in transit expenditure. That low transportation burden makes it the fifth most affordable major metro when housing and transportation are considered together. For the 17.6% of King County residents living below 200% of the federal poverty level (a median income of $22,100) that reduction in financial burden is life-changing. In areas where King County Metro service is densest, households spend a significantly lower share of their income on transportation which describes a direct, measurable benefit of robust transit coverage.
Fundamentally, transit acts as a hedge against increasing cost of living.
Transit’s value also extends beyond the easily quantifiable. The unseen and underaccounted labor of care trips: groceries, medical appointments, school pickups, accounts for 61% of all trips in King County. For seniors, people without licenses, and the disproportionate share of women who make those trips, transit makes independent mobility possible.
The full report is rigorous and worth your time. Read it here.
Interested in helping tell the story of the economic impact of transit? Contact us here.