Sunday, February 15, 2009
Commuting vs. housing cost trade-off
As I noted in the April 15, 2008 post on this blog, there is growing demand for housing near transit with buyers weighing the advantages of location vs. possible loss of living square footage and some privacy. The link at the end of that post is no longer working, so this link is the one to use to calculate the cost-benefit in the location choice, http://www.uli.org/ResearchAndPublications/TerwilligerCenterforWorkforceHousing/Cost%20Calculator.aspx It is possible to save several addresses, edit each category shown in the calculator, and compare the cost of living in a specific location with the cost of the commute to work for that household. Check the Information link for specific instructions or just play with the categories to edit them. The calculator was created by the Urban Land Institute, an organization that develops land use policy in the DC Metro area. You will find all kinds of interesting information on their site; check the navigation panel to the left of the calculator tool.