$3.50 Subway Fare Could Be Necessary After Pandemic: Study

NEW YORK CITY — A $3.52 fare could face straphangers if the MTA can't cover revenue losses from the coronavirus pandemic, according to data released in a new study.

Plunging subway and bus ridership over the COVID era will put the MTA in a fiscal pinch starting in 2024, with few good options, a study released Tuesday by state Comptroller Tom DiNapoli found.

In order to get fare revenue back to pre-pandemic levels, MTA officials would have to hike subway and bus fares by 28 percent, or 77 cents, comptrollers' officials said.

“No one wants to see steep fare hikes or service cuts," DiNapoli said in a statement. "However, it is unclear how the MTA will avoid these outcomes unless it lays out additional options for the public and its funding partners to consider.”

MTA officials echoed DiNapoli's assessment that such fare hikes are an unappetizing prospect.

"The Comptroller’s analysis identifies serious issues that transit agencies across the country are facing, including the MTA," said John J. McCarthy, the MTA's chief spokesperson, in a statement.

"We are committed to maintaining robust service for our riders and this report underscores that solving post-pandemic budget gaps with fare increases and service cuts alone is not an attractive option.

A 4 percent MTA fare hike has already been proposed for 2023, with another 4 percent to follow in 2025.

But that won't be enough to bring the MTA back to its 2019 revenue level, DiNapoli's study found.

A fare hike of at least 19 percent — on top of the MTA's proposed increases and their expected impact — would be necessary to do so, according to the study.

Read the full study here.