Many believe parking in Vancouver is far too expensive. Well, try finding a spot in New York for under $500 a month – it’s almost impossible. When it comes to Vancouver parking rates, our city actually falls into the middle of the pack when compared to other North American cities.
In comparison to major Canadian cities, Vancouver lands in the fifth spot with a monthly unreserved rate of $267.59. Calgary leads the pack with a monthly rate of $438.93.
While the cost for monthly unreserved parking grew by 2.5 percent overall, ten cities saw decreases in monthly unreserved rates, including Toronto, Boston and Vancouver. Hourly parking rates grew as well, increasing by an average 3.7 percent. Fifteen North American markets saw increases, including Chicago, Washington DC and San Francisco.
Top 25 Monthly Parking Rates in North America
*Monthly unreserved median rates
Looking at the figures below, Vancouver has seen a decrease in both monthly reserved and unreserved parking rates. The daily parking rate has also decreased, while the hourly parking rate has held steady.
Image: Richard Smith
Source: Colliers International