New York Remains the Most Expensive City to Park Your Car

Since the holiday season is nearly here and you’re probably planning to travel this Christmas or New Year’s, make sure you take into account parking fees in whatever city you happen to ring in the final days of the year. Add another item to the list of things to stress about.
Stacked parking spots in the world's most expensive city to park a car, New York 6 photos
Office building in Hong Kong where a parking spot costs a little under $1 millionThe Ultima complex in Hong Kong houses one of the world's most expensive parking spotsTandem parking spots in Boston sold in 2013 for $560,000Condo building at 42 Crosby Street in Manhattan offered $1 million underground parking spotsBuilding at 66 East 11th Street in Manhattan also offering $1 million parking spot
Across the U.S. parking has gotten more expensive, as compared to the figures of a couple of years ago, Parkopedia’s 2019 Parking Index, published last month, reveals. If your holiday plans include visiting New York, Chicago or Boston, expect a considerably-sized hole in your wallet at the end of it, because parking fees are highest here.

To reach these conclusions, Parkopedia looked at parking fees both on- and off-street in the biggest cities across the country, for 2-hour intervals, daily and monthly rates. Perhaps unsurprisingly, New York is the most expensive city in the U.S. – and the world – to park a car.

As a rule of thumb, parking on-street is considerably cheaper than parking off-street (in a parking garage, for instance). The biggest price differentials occur in Denver, Boston, Jersey City, Newark and Dallas, while Miami Beach stands out for having more convenient parking fees for off-street parking for 2-hour intervals.

New York, Chicago and Boston are expensive to park both on- and off-street, regardless of time. For example, parking off-street in New York for 2 hours will set you back by $37, while the fee in Chicago is $27.

The same 3 cities rank highest for daily parking fees, with a minor modification regarding monthly rates: New York, Boston, and Jersey City and San Francisco at a tie. If you own a car and you live in NYC, you have to pay $655 every month on parking alone – an amount that explains why about 55 percent of New Yorkers don’t own a personal vehicle.

Monthly rates in Boston total an average of $337, while Jersey City and San Francisco follow suit, with $300 each.


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