Cost of parking in NYC
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, and the cost of parking in NYC is high.
Why is parking in Manhattan so expensive?
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. Keep in mind, too, you’ll have to deal with alternate side parking and move your car several days per week so the street can be cleaned. Otherwise, you’ll get a ticket.
How much will monthly parking in NYC cost?
So, what should you expect to pay for a monthly spot in Manhattan? According to spothero.com, a website where you can book parking in advance and perhaps save a few dollars, the average cost of monthly parking in NYC is $570. While the monthly price could be as low as $400 for an introductory rate at certain lots, that cost will likely increase in a few months. And monthly parking in NYC could cost as much as $1,200 per month (yes, really!) if the lot is in a swanky area like Madison or Fifth Avenue on the Upper East Side. You could pay as much as $800 or $1,000 per month on the Upper West Side.
What about daily parking?
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.) 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 and riding public transit into the city.
What about renting a car in NYC?
I know what you’re thinking. Just rent a car! Wait a minute…that’s not so easy. Car rental rates in Manhattan are exorbitant (like $200 or $250 per day during prime times) and usually, rental companies are sold out every weekend during the summer and on holidays (the times when you’d probably not want to be in the city). So unless you plan way ahead, you’ll likely be stuck when everyone else is working on their savage tan in the Hamptons. And even with reservations, companies overbook and you could potentially still be without a rental car when you really need one.
Is it worth it to own a car in NYC and pay for parking?
Having a car at your disposal in NYC is worth the money if it’s in the budget. You’ll have the ability to leave at any time: when you want to escape the city for an afternoon in nature upstate, take a week away at the beach, or when you’re in lockdown during a global pandemic. Trust me when I say, as someone who has done it both ways but currently lives without a car, it’s totally worth it to pay the parking and have the freedom to come and go as you please.
For New York City parking rates, check out parkingwhiz.com, iconparkingsystems.com, and bestparking.com. Best of luck finding parking in NYC!