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Another day, another expense to add to the high cost of living in New York City—and this is one that will affect almost every New Yorker.
On Monday, May 22, MTA officials announced at a committee board meeting that fare increases are proposed for this summer and would be enforced by Labor Day, in hopes of raising revenue for the MTA, which has had a reported 30% decrease in public transit ridership since the pandemic started in early 2020.
The MTA’s proposed increase will raise base subway and bus fares to $2.90 — a 5% hike over the current $2.75 price per ride. Seven-day MetroCards will have a slightly smaller increase, a 3% raise, up a dollar to $34 instead of the current price of $33. 30-day unlimited passes will also increase by $5 to $132.
Ryan DeBerardinisSubway fare is likely increasing in 2023
For New Yorkers who commute by subway or bus daily, that’s an expected annual cost of $1,584 in public transit expenses. Given that the minimum wage hasn’t increased since 2019, the MTA increase may not be met with much enthusiasm. The last time the MTA increased fares was also 2019 when the seven-day unlimited MetroCard went from $32 to $33 and a 30-day pass increased from $121 to $127. Single-ride fares have stayed steady since 2015, when bus and subway fares increased by a quarter, from $2.50 to $2.75. From 2013-2015, a single ride was $2.25.
Encouraging broader use of public transit, those who travel by car will have a higher burden by the MTA increases—the proposal suggests a 6% to 10% hike in tolls to cross MTA’s seven bridges and two tunnels which include the Queens Midtown Tunnel, the Verrazano Bridge, the Henry Hudson Bridge and more connectors throughout the boroughs.
Following public hearings in June, the MTA is slated to vote on the increases in July 2023.
