NEW YORK (CBSNewYork/AP) – If you think living in Manhattan is expensive, try parking here.
It found that the median monthly rate for Midtown was $541 while Downtown rates were $533 a month.
Carol D’Auria of 1010 WINS spoke with “Craig,” who said the high prices are precisely the reasons why he doesn’t own a car.
1010 WINS’ Carol D’Auria Speaks With New Yorkers About The High Parking Rates
“Too expensive to park it and insurance — it’s a quarter of my rent. How can you afford that?” he asked.
The hourly and day rates are also sky-high in Manhattan.
“I actually parked in two parking garages today and probably spent almost a $100 in one day for about an hour worth of parking. So, it’s insane,” said another driver who spoke to D’Auria.
Colliers chief economist Ross Moore says parking rates have been more or less flat in the last couple of years because of the overall economic downturn.
The national parking rate average is just over $155.
Do you think parking rates are too high? Let us know in our comments section below…
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