Here are some operating expense numbers for the Washington DC BikeShare:
Since its start in September 2010, Capital Bikeshare has taken in $2.47 million and spent $2.54 million on operating expenses. And that doesn’t even include the expensive things, like docking stations—which can cost well over $50,000 each—plus the bikes themselves. Those capital costs, at $7 million thus far, are covered by federal funds.
That is an astounding 97% “farebox” recovery. To put in perspective, the average rail system in the US is lucky to earn back more than 50%. The typical bus service gets back less than 20%.
And then there is the capital cost — a whopping $7 million. By comparison, a single 70-seat BART railcar will cost over $5 million.
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Keep in mind they are used for different purposes. In D.C. Capitol Bikeshare and the Metro (i.e. local BART equivalent) are complimentary.
[…] standpoint, bike-sharing in Washington is a much better value, as Streetsblog Network blog Systemic Failure points out: That is an astounding 97% “farebox” recovery. To put in perspective, the average […]
Yes, they are complementary. But it is helpful to point out how relatively cheap bikesharing is. In my small city, my local city councilor is a bike advocate who rides his bike all the time, but even he seems unsure about the fiscal soundness of the whole venture–so I think we need as much clarity as possible about how really inexpensive bikesharing is.
To clarify, my comment was a reply to Steve…
$7 million on bikes is an abrud way to spend money. Why, $7 million can buy an entire half mile of roading paving! Think of the farebox recovery on that investment.