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Parking Your Car is Very Costly in Some Cities

Parking Your Car is Very Costly in Some Cities



Estimated read time: 2-3 minutes

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Paul Nelson, KSL NewsradioIt's not just your imagination. An international survey says it's costing you more just to park your car every month. You might not believe what some people in other cities are paying.

For some people working in Salt Lake City, the cost of parking doesn't bother them. Some people have bosses that hook them up.

"As long as mine is paid, we're good."

Others have to pay a nominal fee.

"How much do you guys pay, $15 a month?" "That sounds about right."

So, how much are you paying? Twenty dollars? Thirty? How about $1,200?

I asked, "If you had to pay almost $1,200 in monthly parking, do you think you could swing it?"

The responses: "No."

"Absolutely not. I would just park at Wal-Mart."

If I were in London, the answers would be very different. According to Colliers International, people there are paying $1,198 every month just to park their cars. Their latest North American Parking Rate Survey shows parking rates in the U.S. have crept up 4.4 percent, averaging over $150. Here in Salt Lake City, luckily, we're not paying that much.

Downtown Rising Ombudsman Bill Knowles says, "Fifty to $60 a month would be an average. I would say $85 is the highest I have found anywhere, and that's in one of the A-type office buildings downtown."

Knowles says despite how it may seem to people heading into Salt Lake City, there are plenty of places to park.

"We have a lot of space dedicated to parking. We just haven't managed it really in an effective way to communicate that to the public," he says.

Knowles say some of the parking spaces people used to use are already gone, like the Crossroads Plaza and the ZCMI Center Mall. But he says private lot owners are not planning to raise prices because of demand.

"Most of them will tell you they are not maxed out, and we're not maxed out in any capacity," he says.

Knowles says people in Salt Lake City are paying much less than other comparable markets like Denver and Portland, Oregon. The Colliers survey says people in Los Angeles are averaging $192 in monthly parking. In Chicago they spend an average of $285, and in midtown New York City, $630 dollars every month.

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