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You Won't Believe How Much It Costs To Park In New York City

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You Won't Believe How Much It Costs To Park In New York City

stu_spivack via Flickr

In New York City, they say the streets are paved with gold. Maybe that's why it's so expensive to park there.

In New York City, they say the streets are paved with gold. Maybe that's why it's so expensive to park there. 

As reported in The Observer, The latest parking lot pick-up was handled by Imperial Parking Systems Inc., which owns more than 100 parking lots in the city, in midtown for $14 million--the most expensive in the city. In 2012 the average monthly rate was $562, followed by downtown New York which came in at $533 a month. Don't worry--it doesn't get more expensive than that. NYC has the highest parking rates in the country.
 
The most expensive non-New York City city for parking is Boston, which was at $405 a month.
 
The five least expensive spots were Las Vegas ($65), Columbia, SC ($65), West Palm Beach ($56), Phoenix ($55), and Bakersfiled, California ($55).
 
Earlier this year Hidrock Realty bought another parking garage for $28.5 million.
 
Those prices seem steep until you learn what the customers are actually paying. Clearly it's a financially savvy move to buy a parking garage and a need that isn't going anywhere soon.
 

Related Topics sweet home, new york city
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