For San Francisco, the median Uber fare is only $22. For UberX it’s $17. That means that 50% of UberX trips cost less than $17 (and 50% more) but you can expect to pay around $17 for any given trip.
The math here is simple:
Uber’s demographic probably tends toward the higher end of the $5,000-$15,000 per year range (depreciation on a highend car, parking, gas, maintenance etc..).
At the high end about 882 uber rides and 292 at the low end.
Uber costs twice as much as a cab ride. But the median Uber ride only costs $24. That means you’re paying $12 more than you would for a cab.
UberX, is usually 30 percent less expensive than taxis.
Over the next few years, if Uber and other such services do reduce the need for private vehicle ownership, they could help lower the cost of living in urban areas, reduce the environmental toll exacted by privately owned automobiles (like the emissions we spew while cruising for parking), and reallocate space now being wasted on parking lots to more valuable uses, like housing.
Brian Wang is a Futurist Thought Leader and a popular Science blogger with 1 million readers per month. His blog Nextbigfuture.com is ranked #1 Science News Blog. It covers many disruptive technology and trends including Space, Robotics, Artificial Intelligence, Medicine, Anti-aging Biotechnology, and Nanotechnology.
Known for identifying cutting edge technologies, he is currently a Co-Founder of a startup and fundraiser for high potential early-stage companies. He is the Head of Research for Allocations for deep technology investments and an Angel Investor at Space Angels.
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