Downtown Parking Rates Not Bad, Compared to Others

DOWNTOWN LOS ANGELES — I just saw a release on PRNewswire talking about the 2005 Colliers North American Parking Rates Survey. It gives the median price of monthly parking in Los Angeles as $185. That puts LA well behind such expensive cities as Pittsburgh, PA ($277); Hartford, CT ($196.10); and San Francisco ($350). The survey only includes garages, which I think significantly raised LA's daily rate ($22.80).

The 2005 Survey isn't yet up on Colliers' site (at least that I can find), but the 2004 survey PDF is available for download.

As much as parking rates have risen as Downtown's development has increased, it still seems to me like the pricing is depressed. I'd expect to see it go higher as more people start vying for spots. Seeing as I don't have a car, though, I can't say this worries me greatly.