Parking Rates Inch Up in Canada, Hold Steady in U.S.

Oct. 11, 2011

Midtown and downtown Manhattan are the most expensive places to park in the U.S. at median monthly rates of $541 and $533, respectively, according to an annual survey of North American parking rates by Colliers International.

However, the cost of parking there and across the U.S. barely moved compared to last year, with the median monthly parking rate decreasing by just 0.2% nationally to settle at $155.22. Chicago saw the steepest rise of the major markets at 9.7%.

Top 10 Highest Monthly Parking Rates in the U.S.

Midtown Manhattan: $541
Downtown Manhattan: $533
Boston: $438
San Francisco: $375
Philadelphia: $304
Seattle: $294
Chicago: $289
Washington: $260
Honolulu: $217
Los Angeles: $210

Canadian monthly parking rates increased by about 3% over 2010 to about $241.59, with Calgary’s rate of $486 coming out on top.

Midtown also topped the list for median daily parking rates at $41, up 2.5% from last year. Other changes in major markets include Washington, up 20%; Houston, up 20.8%, and Boston, up 6.3%. In Canada, Calgary again led the pack at US $25.73.