If you lived nearer (or gasp, in) the city or nearer your work would you be safer and save money? Todd Litman tells you why the answer is “Yes” and the University of Virginia provides a study and some hard numbers.
There’s a ton of good takeaway here but I’ll pull out a couple basics as a teaser:
From the UVA report:
“Real estate surveys report that neighborhood safety is the most important single influence on where home buyers purchase residences. Most people think about crime when they think about neighborhood safety. But the greatest danger of leaving home is from traffic injuries and fatalities. This research demonstrates that the danger of leaving home is much greater in low-density suburbs and exurbs than in higher-density cities and inner suburbs.
Portion of Lower-Income Household Budgets Devoted To Housing and Transportation By Geographic Location:
Central City: Housing: 32%, Transportation: 22% = Total 54%
Near Other Employment Center: Housing: 35%, Transportation: 31% = Total 66%
Away From Employment Center: Housing: 33%, Transportation: 37% = Total 70%
