The value of taxi medallions has steadily inched upward in the past year for the first time since Lyft, Uber and other e-hail companies flooded the city’s streets with thousands of for-hire vehicles.
According to the city’s Taxi and Limousine Commission, the average medallion value has climbed from $92,565 at the end of the second quarter last year to $140,663 through last month—representing a roughly 52% increase.
That average value is still 87% below the medallion’s $1 million peak in 2014, but the uptick is a glimmer of hope for the industry.
“This is pretty significant news,” said former TLC Commissioner Matthew Daus, who is now president of
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