Congestion Pricing in New York City

Abstract

In the next five years, New York will be implementing a congestion pricing system. It will cover Manhattan's central business district in order to raise funds for the MTA and reduce congestion in the area. This paper will examine how congestion pricing may affect housing prices and transportation choice by looking at London and Singapore as examples. Housing prices in Manhattan will likely increase as a result. For public transit, buses have been a flexible substitute for London and Singapore, and will likely be accepted in New York. It's suggested that the city should make plans to resolve increasingly inaccessible housing as well as prepare for an increased demand in bus usage.