Best cities for public transit [Video]
Posted on Monday, December 7, 2015 at 10:23:57 AM
Any commuter who prefers buses and subways over their personal vehicle may already be aware that when it comes to public transportation, no city does it better than the Big Apple. Redfin, the real estate brokerage, published the 2016 Transit Score rankings by Walk Score - a subsidiary company - earlier this month, and New York City was ranked atop all others in the country.
New York's score improved by nearly 3 points from the last published rankings in 2014, from 81.2 to 84.1. Walk Score's system dictates that any city in the 70 to 89 range has excellent transit. The jump was attributed in part to the first extension of the Metropolitan Transportation Authority's subway system in 26 years.
San Francisco, Boston, Washington, D.C.and Philadelphia rounded out the top five.
"Urban dwellers today want convenience," said Nela Richardson, Redfin's chief economist. "Particularly in congested urban areas, a car may be the slowest way to get around the city. Homes near bus and subway lines tend to have higher values that hold up even during housing downturns."
A train station in Fairfield, Connecticut - built in 2011, before the housing market turned around - is now beginning to see construction build up around it as buyers seek residential financing. Its gradual success has spurred plans for a similar train line, along with additional new housing, in Bridgeport.