New Yorkers Willing to Spend More a Month On Commute
If you could shed a minute off your commute, would you do it? If you said ‘yes’ and would rather avoid an extra 60 seconds of travel time, you’re not alone. Most New Yorkers would agree as well – not to mention, they’d be willing to drop an extra $56 a month to shed a minute off their daily commute. An extra $56 a month is what New Yorkers would pay for a one bedroom apartment that’s a mere 60 seconds closer by subway to “Manhattan’s main business district”. Now that’s commitment. For many of us, our monthly bills consist of the recurring electric, water, and maybe even Netflix and Spotify account, but would you be willing to add another payment to just be seconds closer to the subway?
According to StreetEasy, a real estate listing service, more than 175,000 rental prices from 2015 prove that location is really everything. The rest of the population who can’t cough up the extra money? They get pushed to live towards the outer edges of the city, where their commutes are significantly longer. As the Metropolitan Transportation Authority (MTA) plans for construction to the subway system, the L train will shut down for 18-months. For residents in Williamsburg and Brooklyn, rent prices are expected to drop due to having to utilize the Bedford Avenue station, which adds an extra 8 minutes to their commute. It’s expected that rent will drop anywhere from $200-$450 a month.
With the addition of transit technology, it’s apparent that people are willing to toss out the extra cash when it comes to convenience. Being able to handle the transit experience entirely from their smartphone gives them the control they expect. For Passport’s transit platform, users are able to plan, track, and pay for the transit session via mobile app. From paying an extra $56 a month to handling your transit experience from your smartphone device, it’s obvious that convenience is completely changing the way and how we move…