This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Top 10 Cities For Car Sharing

PORTLAND, Ore. (TheStreet) -- Once again, America finds itself awash in $4-per-gallon gas with no fewer miles to commute, public transportation still catching up to demand and bicycles woefully inadequate for any but the most hardy individuals in locales with miles of bike path. Care to share a ride anybody?

As the latest Department of Energy numbers indicate, fuel prices have been inching steadily upward since early January and have hit a nationwide average of almost $3.80. Take it out to the West Coast and you're already looking at more than $4 a gallon.

Meanwhile, car use is slowly inching down as the days of $2 gas seem like a pipe dream and peak oil looks more imminent. The share of new cars being bought by Americans between 18 and 34 is down 30% in the past five years, according to auto pricing site Edmunds.com. A Pew Research Center study notes that people under 35 bought 12% fewer cars than they did in 2010.

Think it's just an economic anomaly? A remnant of the recession? Guess again. The Department of Transportation notes that just 28% of 16-year-olds had driver's licenses in 2010, with just 45% of 17-year-olds claiming the same. That's plummeted from 50% and 66% respectively in 1978.

Overall, as DC Streets Blog and the Frontier Group and the U.S. Public Interest Research Group Education Fund point out, Americans are driving roughly 6% fewer miles than they were in 2004. That's partially, as Census Bureau data shows, because more people are living in cities than they were a decade ago. It's also because fewer Americans want to put up with the $818 a year in lost time and gas money sucked away by the average commute, according to the Texas A&M Transportation Institute's Urban Mobility Report.

So what do these newly urbanized, auto averse Americans do when life requires them to move something across town, go on a big shopping run or get out of town to a place off a rail line for a few days? Increasingly, they share cars through new Avis Budget (CAR) acquisition Zipcar (ZIP), Car2Go and similar services. The New York Times (NYT) reported in January that 800,000 Americans belonged to car sharing services last year, up 44% from 2011. In cities where it makes more sense to pay $10 an hour for a car than $10,000 every few years, picking up a Toyota (TM) Prius, Mini Cooper, Smart Car, Nissan (NSANY) Leaf or Ford (F) Escape for a few days is as much a part of urban life as ordering in Chinese food or staying in town during the holidays while everyone else flees.

WalkScore, a site dedicated to determining and rating the density of amenities and resulting "walkability" of various cities, recently compiled a list of the Top 10 car-sharing cities in the U.S. With the number of car-sharing pickup and drop-off points tallied and the most popular car-sharing neighborhoods mapped out, here's their take on the best cities for sharing cars without sharing any of the hassle of actually owning one:

1 of 11

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 16,943.81 +28.74 0.17%
S&P 500 1,967.57 +2.89 0.15%
NASDAQ 4,415.49 +19.2860 0.44%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto
Advertising Partners

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs