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NPA’S ‘PARKING IN AMERICA’ 2011 RATES REPORT


Daily Price for Downtown Space Rises, But Monthly Premium Continues Decline


The National Parking Association (NPA) has released the results of its fourth annual “Parking in America” survey report. The study measures monthly, daily and hourly rates in cities throughout the U.S. and Canada, including parking facilities at hospitals, hotels, educational institutions and airports. The report also documents rate trends in downtown parking areas and among institutional parking owners and operators.


“This is by far the most comprehensive survey of parking rates across public and private parking assets,” said Christine Banning, CAE, President of the National Parking Association. “‘Parking in America’ provides an important snapshot of our industry, and it also demonstrates how closely parking is linked to the economy as a whole.” The survey found that, in 2011, the


average price of a premium downtown space across North America saw an increase of 4.5%, from $15.92 per day to $16.64. This is a rebound from the 2010 study which showed a 20% decline in rates. While at the same time, the average price of the least expensive space in these markets has risen from $8.48 per day to $12.57.


The average cost of a premium reserved monthly space dropped for a second straight year from $240 to $199, after a decline in 2010 from $281 to $240. This suggests continued downward pressure on long-term parking contracts post-recession. The cost of the least expensive monthly spaces increased from $142 to $166. Overall, 38% of Central Business District (CBD) facilities raised their rates, a 40% increase over 2010. Additionally, 29% held rates steady, while another 29% lowered prices. “These daily and monthly price trends


reflect the state of the economy,” Banning said. “Consumers are increasingly using parking on a daily basis, but monthly parking paid by employers may still be reduced as companies slowly begin a


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