New York City may be the nation's most expensive city to park in, but according to a new Colliers survey, it's not the priciest parking in the world. Monthly parking rates in Midtown Manhattan are down 2% from last year, now at an average of $538, while downtown rates rose 6% to $529. The highest price in the world goes to London, where drivers spend an average of $933 a month!
Meanwhile, daily parkers in the city may be noticing a lower rate for spots—downtown garages are charging 18% less than last year (now at $31/day), and in Midtown prices fell 9% to $40 a day.
According to the Wall Street Journal, the decline could be "due in part to cost-conscious consumers who have cut back on driving to the city, opting instead to take the train to see a Broadway show, for instance." The Department of City Planning found that the number of people driving in to Manhattan dropped by 57,000 from 2000 to 2007! Certainly this is also good for some commuter's stress levels, and of course the environment.
If you're looking for cheap parking, you'll have move to Phoenix ($40/month), Reno, Nevada ($45/month), or Ft. Lauderdale, Florida ($53/month)!