2006 Parking Rate Survey

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2006 Parking Rate Survey

Here’s the Deal.  Colliers International has released its annual survey of parking rates.  I think its important so I copied its summary here. The most interesting thing is that there hasn’t been a huge increase in parking rates over the past year.  Remember what "median" means — its NOT the average, but the middle number. If you list all the parking rates surveyed in Manhattan, for instance, the rate listed below is the middle rate, not the average rate.There are just as many on the list above $574.12 than there are below.

Rates for unreserved parking spaces crept higher over the
past 12-months, rising on average 4.4 per cent across the U.S.The median rate for unreserved
parking now averages U.S.$153.19 per month. Unreserved rates range from
a high of $887.80 in Midtown Manhattan to a low of
$35.00 in Phoenix, Arizona

Reserved parking rates increased marginally during the same
12-month period, rising 3.8 per cent. The median rate for reserved parking now
averages $180.68.Daily parking rates, however, posted a sizeable gain of 10.1
per cent in the U.S.

The median rate for daily parking now averages $15.28.

The five most expensive parking districts in the U.S. are (based
on median monthly unreserved rates):

• Midtown Manhattan– $574.12 per month

• Downtown Manhattan- $500.00 per month

•Boston– $420.00 per month

•San Francisco– $335.00 per month

•Chicago– $332.00 per month

The five least expensive parking districts in the U.S.are (based
on median monthly unreserved rates):

•Phoenix, — $35.00 per month

•Walnut CreekCA– $35.00 per month

•Bakersfield CA– $40.00 per month

•Reno NV– $45.00 per month

•Fresno CA– $55.00 per month

Global

Parking rates in cities around the world make even the most
expensive Canadian and

U.S. cities seem reasonable.

Typical parking rates (Daily / Monthly, in U.S. dollars):

• London West
End– $58.90 per day / $898.00 per month

•London ,
City — $55.20 per day / $896.00 per month

•Tokyo — $84.20 per day / $702.00 per month

• Hong Kong– $25.75 per
day / $682.00 per month

• Midtown Manhattan– $40 per day / $574.00 per month

• Moscow– $29.60 per day / $531.00 per month

•Sydney — $38.25 per day / $488.00 per month

• Paris– $31.75 per day / $317.50 per month

• Munich– $19.05 per day / $295.00 per month

•Frankfurt– $34.30 per
day / $278.00 per month

•Toronto– $17.85 per day / $268.00 per month

Colliers International North American Parking Rate survey
was conducted in June and covered a broad selection of 59 metropolitan areas in North America , as well as select cities in Europe and Asia

.

John Van Horn

John Van Horn

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