Is transportation a high family expense within the US?

Transportation expenditures are the second-highest expense for households nationwide, trailing solely what they spend on housing, in line with the Bureau of Labor Statistics. 

In 2023 common general family spending was $77,280, an nearly 6% improve from 2022. Of these bills, housing prices accounted for almost 33%, round $25,436, whereas transportation accounted for 17%, about $13,174. Meals bills adopted at about 13% of whole bills, at nearly $10,000. 

Households spent a mean of $12,300 on transportation in 2022, with will increase attributed to larger spending on public transportation and a rise in automobile purchases. Cash spent on gasoline decreased 44% between 2022 and 2023. 

Denver metro space households spent a mean of $94,236 per 12 months in 2022 and 2023. Throughout the identical interval, they spent about $15,300 yearly on transportation prices, the overwhelming majority on buying and sustaining personal autos. Housing, transportation and meals accounted for 63% of family spending. 

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