Should I Move Closer to Work?

Gasoline prices have gone up. Even though some of us did not mind a longer commute, we are feeling it in our pocketbooks with the rise of gas and inflation. We are getting calls from clients now asking if this is the time they should move and the reason they are moving is to be closer to their work.

Now how does the real cost of a gallon compare to the past when you account for inflation?

$3.94 is the average price per gallon for unleaded regular-grade gas in Texas on July 21, 2008

$1.43 is the price of gas nationwide in July, 1998 in 2008 dollars ($1.08 at the pump at the time.)

$1.77 is the price of gas nationwide in July, 1988 in 2008 dollars ($0.97 at the pump at the time)

19% decrease in gas costs for a homeowner’s commute from 1988 to 1998.

275% increase in gas cost for a homeowner’s commute from 1998 to 2008.

$1,313 is the annual fuel savings a homeowner could see by moving 10 miles closer to their office, assuming fuel efficiency of 15 miles per gallon.

Ready to move? Give us a call!!

**Sources: US Dept. of Energy, US Federal Reserve