Anyone looking for a parking spot in Boston knows it’s just as hard to find a spot as it is to pay for it. A national study confirms that Boston has some of the most expensive parking rates among cities nationwide.
The National Parking Association’s (NPA) third annual "Parking In America" survey found Boston leads the way in the highest monthly unreserved parking rates. New York and San Francisco rates were comparable to those in Boston, the survey found.
The survey found that in the past year, the average price of a premium downtown space across North America has dropped by approximately 20 percent, from $20.01 per day to $15.92. At the same time, the average price of the least expensive space in the markets covered by the study has risen from $7.64 per day to $8.48.
Similarly, the average cost of a premium reserved monthly space dropped from $281 to $240, while the cost of the least expensive monthly spaces increased slightly, from $140 to $142. Overall, only 27 percent of central business district operators nationwide increased parking rates, while 66 percent held theirs steady and 7 percent lowered prices.
The study measures monthly, daily, and hourly rates in cities throughout the nation and Canada, including parking facilities in hospitals, hotels, educational institutions, and airports. It also documents rate trends in downtown parking areas and among institutional parking owners and operators.
"These daily and monthly price trends reflect the state of the economy," said Christine Banning, president of the National Parking Association. "Consumers are being more careful about how they spend their money, and they are looking for ways to economize. These rate trends reflect the extent to which parkers are seeking out less expensive parking options and driving their rate decisions."
The NPA parking survey also found significant disparities in the cost of parking from city to city. For example, downtown parkers in New York paid a maximum daily rate of $44 and those in San Francisco paid $40, while drivers in Chicago and Philadelphia paid more than $35. Conversely, drivers in Decatur, Ill., could park for as little as $2.00 per day, and daily parking in Buffalo, N.Y. and Edmonton, Alberta could be found for as little as $4.25.
