Chicago parking rates among highest in nation
BY RACHEL RICE Staff Reporter July 7, 2011 10:06PM
Scott Stewart~Sun-Times file photo
Updated: July 8, 2011 2:14AM
Chicago drivers pay the fourth-highest daily parking rate, and seventh highest monthly parking rate in the United States, according to a new survey.
The median daily parking rate in downtown Chicago is $32, according to the annual parking rate survey by Colliers International. New York’s Midtown is the most expensive place to park, with a median daily parking rate of $41.
Daily parking rates increased moderately here, up by 3.2 percent from a year ago.
Chicago’s median monthly parking rate is $289, while the national average is $155. New York also was first for monthly rates, with a wince-worthy average of $541.
Despite the pricey parking, Chicago’s monthly rates are actually down 9.7 percent from last year. Nationally, parking rates barely decreased by 0.2 percent from last year.
U.S. parking prices might seem expensive, but across the pond, London boasts the highest monthly parking rates in the world, at a dizzying $1,084.