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Denver hourly, monthly parking-garage rates top U.S. average Denver Business Journal – by Mark Harden Read more: Denver hourly, monthly parking-garage rates top U.S. average – Denver Business Journal

Denver hourly, monthly parking-garage rates top U.S. average

Denver Business Journal – by Mark Harden

The median hourly parking rate in downtown Denver garages is $8 — well over the average national urban hourly rate of $5.62, according to the latest annual parking rate survey from Colliers International.

Hourly parking rates in Denver’s central business district range from $2 to $10, versus a national range of $2.93 to $9.19, the survey shows.

As for monthly garage parking rates, downtown Denver’s median for unreserved parking is $175 a month, versus a national average of $161.56 a month.

For reserved parking, where a driver is guaranteed a specific space every day, Denver’s monthly median is $225, versus a national figure of $198.96.

On the other hand, daily parking rates in Denver are just under the national average for urban areas. The city’s median rate is $16 a day, versus the national average of $16.36.

Midtown New York City has the nation’s highest garage parking rates, according to Colliers: a median of $20 an hour, $40 a day and $538 a month.

The survey includes central business districts in 44 U.S. urban areas and 12 in Canada. It examines June 2010 rates only in covered or underground parking garages, not open-air lots or street parking.

Nationwide, daily parking rates dropped 1.4 percent between 2009 and 2010, the survey shows. In Denver, rates stayed about the same.

“Even in the face of economic hardship, parking garage owners and operators have managed to hold rates steady, providing little relief to businesses or consumers,” Ross Moore, Colliers’ chief economist/USA, writes in the survey report.

The survey says the availability of downtown parking space in Denver is “fair,” and that downtown garages generally don’t have waiting lists; 11.6 percent of garages in the cities surveyed do have waits.

Colliers International is a global real estate business owned by Toronto-based FirstService Corp. (NASDAQ: FSRV).

Click here to download the latest Colliers parking rate survey.


mharden@bizjournals.com

3 comments to Denver hourly, monthly parking-garage rates top U.S. average Denver Business Journal – by Mark Harden Read more: Denver hourly, monthly parking-garage rates top U.S. average – Denver Business Journal

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