A new study finds that garage parking costs the average renter an additional $1,700 per year (17 percent) nationwide. For the average carless renter, the extra cost of unused parking is $621 per year (13 percent). That amounts to $440 million in losses across more than 700,000 households. SSTI offers several useful resources that will help developers and cities build and manage parking efficiently.
cost of parking
700,000 carless renters pay extra 13 percent for unused garage parking
A new study finds that garage parking costs the average renter an additional $1,700 per year (17 percent) nationwide. For the average carless renter, the extra cost of unused parking is $621 per year (13 percent). That amounts to $440 million in losses across more than 700,000 households. SSTI offers several useful resources that will help developers and cities build and manage parking efficiently.
How much does parking really cost (in time, fuel, and frustration)?
INRIX, a company that provides both software and data services in the realm of transportation and mobility, has issued a report on the cost of “parking pain.” Instead of focusing on the cost of a parking spot, the report looks at the time, wasted fuel, and congestion caused by searching for a spot. They also estimated how much drivers waste by paying for more parking time than they need.
Costs for Pedestrian and Bicyclist Infrastructure Improvements: A Resource for Researchers, Engineers, Planners, and the General Public (Pedestrian and Bicycle Information Center, 2013)
This report provides infrastructure cost estimates for pedestrian and bicycle treatments, infrastructure, and amenities from across the country. Costs vary widely, but the report includes high, low, and median costs from a variety of sources.
American parking requirements: Massive (mostly), arbitrary, and costly
The large supply of parking has become a key concern in transportation and land use planning. Lots of parking makes it difficult for non-motorized modes to function, shifts costs from drivers to others, encourages SOV use, reduces available land for higher and better uses, creates stormwater issues, and so forth. One factor driving the prevalence of parking is regulation through zoning codes that impose parking minimums.