NYC Tops U.S. In Monthly Parking Fees, Survey Finds

NEW YORK (CBSNewYork/AP) — If you think living in Manhattan is expensive, try parking here.

An annual survey by Colliers International found that Midtown and Downtown Manhattan are the most expensive places to park to your car in the country.

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…

(TM and Copyright 2011 CBS Radio Inc. and its relevant subsidiaries. CBS RADIO and EYE Logo TM and Copyright 2011 CBS Broadcasting Inc. Used under license. All Rights Reserved. This material may not be published, broadcast, rewritten, or redistributed. The Associated Press contributed to this report.)

More from Carol D'Auria
Comments

One Comment

  1. MSavage says:

    If I pay that much, I hope the attendants at least have the courtesy not to steal any bottles of cologne from my car.

  2. Pest says:

    It’s abuse.. They prey on people who need to leave their cars for just a few minutes. I paid $35 for 20 minutes and that is excessive. Taxes are 18% and that too is just obsurd. The people need to fight to get the laws changed. Let us all face reality and acknowledge that these excessive taxes are monies that simply being scuandered. We don’t need the cash if it consistently falls in the hands of some corrupt corporation.

  3. Dale Auburn says:

    If you don’t like Manhattan parking rates, then try this new and unheard-of idea… TAKE THE SUBWAY like normal people.

  4. gjk says:

    i love the question: “Do you think the rates are too high?” Do they actually expect someone to say they aren’t high enough?

    If you really want to beat these costs, buy a truck and register it as a commercial vehicle. Of course, you’re not supposed to park commercial vehicles anywhere for more than twelve hours, but if you’ve got a driveway at home you’re golden.

  5. G says:

    IF YOU PRINT OUT A COUPON FROM ICON PARKING YOU CAN PARK FOR $10 OR $15. I USE IT AT NIGHT AND WEEK END. NOT SURE ABOUT WEEKDAY

  6. Frank D says:

    It’s exploitation.

    Can’t we just slam the ignorant tourists? We just want their money anyway and they’re too damn dub to know they are being ripped off. They think being mugged is a right of passage. :)))

Comments are closed.

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