Do you own a car and live in NYC? Or, are you considering traveling to New York by car? If you answered “yes” to either of these questions, I’d say that you’re a brave soul. Driving in the city is no easy feat, but the cost of parking in NYC is high. Why is parking so costly in Manhattan? Because space comes at a premium here – whether you’re looking for a place to sleep or a place to store your car. When it comes down to it, there’s not enough space to do either. Hence, why this town is astronomically expensive.
While you might try parking on the street, spaces in Manhattan are hard to come by in a lot of neighborhoods, so you could be forced to park in a lot. Street parking is easier in the other boroughs, that’s for sure, but more people tend to own cars in Brooklyn, Queens, Staten Island and the Bronx, so don’t expect to find a space without a hunt.
So, what should you expect to pay for a monthly spot in Manhattan?’ The average cost of parking in NYC is $400-plus per month but could be as low as $250 for an introductory rate in a not-so-desirable location that’s far from the subway (and that will increase in a few months, usually). Or monthly parking in NYC could cost as much as $1,200 per month if the lot is in a swanky area like Madison or Fifth Avenue on the Upper East Side.
If you’re in the city for a day or two, daily rates average about $45 to $50 but could be as low as $20 or high as $125. Want to park for only an hour? Be prepared to fork over at least $20 or 30 for that short amount of time.
And if you own an SUV, surcharges always apply. (Back to that limited space thing.)
Still determined to drive and park your car in New York? For a detailed guide on parking in NYC, head over to my latest article on the Cubesmart city blog. And for the least expensive solution, I recommend not driving in or to New York, and if you must travel by car, consider parking in New Jersey.
This article is part of a partnership with CubeSmart, a self-storage and logistics company with locations in the NYC area.