One way to handle gas prices: Move

More people are looking to live closer to work and shopping, and find relocating saves them hundreds of dollars a month in gas.

EMAIL  |   PRINT  |   SHARE  |   RSS
 
google my aol my msn my yahoo! netvibes
Paste this link into your favorite RSS desktop reader
See all CNNMoney.com RSS FEEDS (close)
By Steve Hargreaves, CNNMoney.com staff writer

Photos
America's Money: Gas crunch hits home America's Money: Gas crunch hits home America's Money: Gas crunch hits home
The record-high price of gasoline is putting a strain on motorists - and spurring some to shift their habits. Here are their stories.
erinn_thomas.03.jpg
Erinn Thomas from Reno, NV, hopes to save $300 on gas and other expenses by moving.
To become less dependent on fuel, I'd be most inclined to...
  • Grow my own food
  • Install solar panels
  • Buy an electric car
  • None of the above
zulick_jason_ireport.03.jpg
Jason Zulick and his wife Tara like the fact that they've cut their greenhouse gases.

NEW YORK(CNNMoney.com) -- It may seem a bit drastic, but more and more people are taking what is perhaps the ultimate step in cutting gas prices: They're moving.

Peaches Stevens used to rent an old farm house in southern Indiana. She loved the setting, but her job as a high school science teacher was 62 miles to the north.

Coaching golf after school made carpooling difficult, and even though her Dodge Neon got an impressive 30 miles a gallon, she was still spending upwards of $400 a month on gas.

So she moved. Now Stevens, 49, rents a place eight miles away from school. Plus, she bought a Honda scooter that gets 80 miles a gallon. Now she can get to work and back for about $16 a month.

"I'm doing it all for economic reasons," said Stevens, who figures she'll save enough in gas to pay off the $2,400 scooter in under 7 months. "I loved [the farmhouse], but I do feel like I'm doing the right thing."

Stevens is part of a national trend of high gas prices playing a major role in where people choose to live. Factors like distance from work, access to public transportation, and proximity to shopping are gaining ground on square footage and whether or not the home has a yard and pushing people into more densely packed areas.

"The high cost of gas is cited as a driving factor in increased interest in urban living," said Jim Gillespie, chief executive of Coldwell Banker, a national realty franchise. "Over the past several years we've seen a boom in downtown living all over the country."

It seems like the people actually making the move so far seem to be renters as opposed to owners, as not renewing a lease is obviously much easier than selling a home.

While their wallets may be happy, whether the quality of life is improving for the people who move is debatable.

"I went from a beautiful home with a big back yard to an itty-bitty studio apartment," said Erinn Thomas, who moved from a suburb of Reno, NV, to the downtown area to save on gas. "But it's what I had to do to eat."

So 25-year old Thomas now rents a place just a mile from work.

She says she'll miss the space of the suburbs, but in addition to the $200 a month she hopes to save on gas, she also aims to pocket another $100 a month - and probably improve her health - by staying away from the Drive-thru window at the local fast-food joints.

"I don't have to drive anymore and I can buy a bike," she says.

In addition to personal health, some are also tipping their hat to the health of the planet.

"You cut your carbon footprint, which is pretty cool," said Jason Zulick, a 31- year old human resources manager from Orwigsburg, Penn.

Jason and his wife Tara moved to Orwigsburg from a town 25 miles away. High gas prices weren't the only reason they moved - the couple hopes to start a family and wanted to be closer to relatives in the area.

But they played a big part, and Tara's commute to her teaching job has been cut in half.

"We've saved $150 a month on gas alone just making the switch," said Jason.  To top of page

Features
They're hiring!These Fortune 100 employers have at least 350 openings each. What are they looking for in a new hire? More
If the Fortune 500 were a country...It would be the world's second-biggest economy. See how big companies' sales stack up against GDP over the past decade. More
Sponsored By:
These 20 antique guns could fetch big bucks Morphy Auctions in Pennsylvania is putting nearly 1,000 old guns on the block. Here are just a few. More
15 execs who make more than their CEOs Sure, corporate chiefs' pay often is eye-poppingly high. But at some companies, executives lower down the ladder quietly out-earned their CEO bosses. More
Novelty gifts for people with money to burn For those who've got the cash, these holiday gifts can really make a statement. More


Most stock quote data provided by BATS. Market indices are shown in real time, except for the DJIA, which is delayed by two minutes. All times are ET. Disclaimer.

Morningstar: © 2014 Morningstar, Inc. All Rights Reserved.

Factset: FactSet Research Systems Inc. 2014. All rights reserved.

Chicago Mercantile Association: Certain market data is the property of Chicago Mercantile Exchange Inc. and its licensors. All rights reserved.

Dow Jones: The Dow Jones branded indices are proprietary to and are calculated, distributed and marketed by DJI Opco, a subsidiary of S&P Dow Jones Indices LLC and have been licensed for use to S&P Opco, LLC and CNN. Standard & Poor's and S&P are registered trademarks of Standard & Poor’s Financial Services LLC and Dow Jones is a registered trademark of Dow Jones Trademark Holdings LLC. All content of the Dow Jones branded indices © S&P Dow Jones Indices LLC 2014 and/or its affiliates.