Thinking about grabbing a taxi or Uber in Midtown? A Citi Bike might be a better bet.

With auto speeds in the Midtown core hovering under 5 mph, new data from the city’s Department of Transportation shows the thousands of people per hour who opt to take for-hire vehicles in the area would move a lot faster on two wheels.

Citi Bikers in Midtown travel around 30% faster than their taxi-riding counterparts, according to the bike-share trip data analyzed for the DOT’s annual “Mobility Report,” which was released last week.

The bulky blue bikes are also cheaper — a Citi Bike membership costs $169 for year — with $5-per-month options available for certain low-income groups — or $3 for a single ride.

Comparatively low bike rental fees mean the average yellow cab trip costs more than double the average Citi Bike ride, according to city data.

A 1- to 1.5-mile taxi trip through Midtown, for example, takes an average of 15.7 minutes in a car and costs $10.63. A Citi Bike ride covering the same distance takes 10.8 minutes — but costs an average of $1.57 per ride.

“In rush hours I would be sitting in a cab forever, so I’m saving time and money,” said Ray Zhang, 31, an administrative assistant with a yearly Citi Bike pass who cycles to and from work between Midtown West and Midtown East.

A Citi Bike ride in Western Queens or North Brooklyn, meanwhile, won’t necessarily save time, but will save money — especially for shorter trips. For trips in Brooklyn or Queens under half a mile, Citi Bike riders save only a few seconds on their cab-riding counterparts — but spend a third as much.

Cab trips still outnumber Citi Bike trips in the Midtown core. In North Brooklyn and Western Queens, the opposite is true — particularly at rush hour when car traffic is worst.

DOT expects the number of Citi Bike trips to continue to grow. The bike-share service will double its coverage area in the next four years.

“Biking is not only sustainable, healthy and fun — in many cases it is also the fastest way to get from point A to point B,” DOT Deputy Commissioner Eric Beaton told The Post.

“As Citi Bike expands, we continue to find that this is true not just in Midtown, but all over the city, and we expect that people will increasingly make that choice instead of driving or using for hire vehicles.”

Ride-hailing company Lyft purchased Citi Bike’s parent company last year. It did not respond to a request for comment.