Magnetic levitation (maglev) is amongst the most advanced technologies that are available to the transportation industries. It

has already been noticed by decision makers in many countries around the globe. Contrary to such high levels of interest, there

are no practical algorithms available to the engineers and/or managers to assist them in analyzing economics of the maglev

systems. Therefore, it has been the purpose of this research to find appropriate answers to such vital questions and also investigate

feasibility for practical use of maglev technology in rapid transit systems. The life cycle costs (LCC) for the maglev system

including the cost of initiating such projects are included in this survey and are evaluated. To serve the purpose, an algorithm is

presented that facilitates the technical and economical analyses of maglev systems. The proposal for a long distance maglev

system, Mashhad-Tehran (M-T), is used as a case study by using the proposed algorithm. Moreover, the cost of establishing and

operating M-T project is estimated by two other different approaches. These include the already established mathematically based

cost estimating method, and the cost estimations based on the international norms and standards. These standards are based on

statistical (or provided) data. Such cost estimations assist verification of the proposed algorithm. Comparisons between outcomes

of the three methods prove close agreement for the cost estimation by all of them. It is concluded that the proposed algorithm for

implementation and operation of maglev route is practical.