What city has the most expensive parking? The answer won’t surprise you. But you might need a moment to take in how high parking costs have climbed in a couple of years. Here is a quick round-up of average rates in the top 5 most expensive cities to park in the US.
Big cities across the US have one thing in common – incessant traffic and parking troubles due to high vehicle density and low space availability. It is reported that downtown parking costs across North America have grown by 3.7%. Traffic departments and parking authorities are on the warpath to find effective solutions. From a car owner’s perspective, rising parking costs are a bigger concern than parking space availability. However, the consistent demand for limited parking space directly impacts the cost. Demand-based pricing is now imposed even on metered street parking.
In NYC, finding secure garage spaces isn’t always a challenge if affordability is not your priority. In LA and San Francisco, on-street and off-street parking spots are plenty but still not enough to meet the demand, which pumps up the rates in the busiest neighborhoods. While metered street parking seems cheaper, there’s always the risk of parking violations. Parking tickets often cost more than hourly rates at premium garages. Seasonal and temporary parking restrictions in cities like Chicago and Washington D.C. often lead to these expensive fines. It is easier to keep up with discounted off-street parking offers online than these complicated city parking rules.
Here’s all you need to know about the most expensive cities to park in the US.
NYC – #1 Most Expensive Cities to Park in the US
It’s hard to beat the NYC parking cost! Unless you can easily spare a few hundred bucks, finding a parking spot in the city is a recurring nightmare. While the monthly median rate for unreserved parking in the country is $166.26, Manhattan parking lots will have you spending $550/month on average. Downtown hourly parking rates average around $20, while metered street parking goes up to $7.50. If you rely on being a street parking expert, remember that NYC parking tickets cost $45 – $600!
So, where can you find cheap parking in the ‘most expensive city to park in the US’? Queens and Staten Island are pretty cheap, with monthly parking costs as low as $100 – $300. On the opposite side of the spectrum are Midtown Core and Lower Manhattan. Count yourself lucky if you manage to find affordable parking around Central Park. Manhattan is also the borough where you’ll spend the most time looking for a parking spot. But you can always pre-book a spot online to save time and even find the lowest rates at the best NYC parking lots.
San Francisco – Parking Spots vs. Parking Tickets
Did you know? San Francisco collects nearly $90 million in parking fines every year. This isn’t surprising when violating street cleaning restrictions can set you back by $85. Even in New York City, you’ll pay $20 less for the same citation. On the other hand, the average cost of parking in San Francisco is $38/day. In busy neighborhoods, metered street parking could cost as much as hourly rates at garages. You’ll have to shell out the most on downtown and the Embarcadero parking spots. However, the rising parking cost hasn’t deterred demand, especially in areas like Fisherman’s Wharf.
San Francisco has introduced demand-based meter pricing to balance demand and availability. The rates are incrementally adjusted to control demand in busy neighborhoods. The most in-demand metered spots go for $10, which might seem cheap compared to off-street parking. However, keep in mind that around 75% of San Francisco parking meters come with a two-hour maximum time limit. On average, downtown parking lots and garages charge $30 – $40 per day. When you consider the safety and convenience, San Francisco parking lots are the better option any day. Besides, a monthly parking space can reduce your daily parking expenses significantly.
Los Angeles – More Cars Than Parking Spaces
LA loves its cars, and there is no better way to get around this city. Over 7 million vehicles are registered in LA County every year. You can’t avoid traffic congestion, but parking troubles are easier to tackle. The gap between parking space availability and demand is a major challenge in Los Angeles. Downtown, Westlake, Hollywood, and Venice face the bulk of the city’s parking problems.
The median hourly LA parking rate at off-street facilities ranges from $20, while a monthly parking spot will cost you $235 on average. Meanwhile, the average parking ticket fine is $70-$75. Staying off the streets might actually be cheaper. However, LA also has the advantage of more parking spaces near popular attractions and in busy neighborhoods. You have better chances of finding affordable parking in LA using a parking app. Compare rates and amenities at parking lots and garages near you and pre-book a spot for the lowest rates.
Washington, DC – Capital of Parking Restrictions
Parking on the streets in Washington, D.C., is the trickiest challenge. Apart from the zone-specific rules, temporary regulations can cause unexpected trouble. If you are just visiting or new to the city, stick to your hotel parking lot or look for an affordable monthly spot. But the cost of parking in Washington, D.C., isn’t cheap – expect to spend about $50 a night at hotel garages. The city also has some of the highest hourly rates at parking lots ($9 – $10), while metered parking costs $2.30/hour on average.
Central Business District, National Mall, Georgetown, Adams Morgan, Chinatown, Wisconsin Avenue, and Maine Avenue see the highest demand for parking spots. Naturally, parking costs are also high around these neighborhoods. Before you plan to risk street parking, know that a Washington, D.C. parking ticket will cost you anywhere between $30 – $100.
Chicago – Rising Rates & Seasonal Restrictions
Traffic and weather in the windy city have few fans. Add parking expenses to the mix, and it doesn’t look good for Chicago’s drivers. The high vehicle density complicates the matter further; finding a parking spot turns out to be quite the challenge.
Parking rates in Chicago hover around $35 for all-day parking at garages and lots. Hourly parking at these off-street facilities also demands a median rate of $19. With off-street parking rates at this level, you might resort to street parking. But it is when you get lucky and find a spot near your destination that the stress kicks in – one wrong move, and you’ll be paying hefty parking fines. Most metered spots come with at least a two-hour maximum limit. And then there are the seasonal restrictions – illegally parking in towaway zones or snow routes will lighten your wallet by $60 minimum. Don’t forget the $150 towing + $25 storage fee. Chicago meter rates have also gone up in the past couple of years. Parking in the Loop downtown will cost you the most at $7/hour. The Central Business District meters also charge close to $4.75, while in other parts of the city, street parking is uniformly priced at around $2.50.
Parking expenses across major US cities are all climbing to new highs. While the authorities look for solutions, the best thing you can do is quit going for the easy option. While street parking seems convenient, the hidden risks are too big to gamble with – parking fines add up to larger amounts than you think. Finding the cheapest parking lots and garages in your city is as easy as browsing your phone. While street parking goes through its unpredictable highs and lows, keeping track of the lowest rates at parking lots is easier online.
Renée Martin is a travel and car expert who focuses on road and air travel in the U.S. For the past 6 years, she’s been helping make driving and trip planning easier and budget-friendly for everyday travelers.
