New York Is Still The Most Expensive City in The World to Park Your Car

It should be no shock to anyone that New York City is an expensive city to live in, and that fact is extended to one’s ability to park a car.

Based on data that covered over 90 million parking spaces in 20,000 cities across 19 countries collected by Parkopedia.com,the New York City is still ranked #1 the most expensive city in the world to pay for a parking spot. In 2019, an off-street parking spot for two hours would cost an average of $34.94. As of 2022, that average increased to $43.10.

While many other US cities claimed some of the top spots like Chicago, Boston, Philadelphia, Washington DC and San Francisco, they were also met with some major cities in Australia like Sydney, Brisbane, and Melbourne, all of which fetched prices between $19 and $29 for two hours of parking.

Amsterdam and the Netherlands in general is not the most ideal for parking. The Netherlands ranked as the most expensive country in the world for monthly off-street parking with an average cost of $344.29 per month. Amsterdam had come in first as the most expensive city in the world for two-hour on-street parking with an average cost of $13.31.

So what could be the cause behind these increased parking costs? According to the study, the main contributors are supply and demand, initiatives to go green, and inflation. COVID-19 had also led to a shift from using public transportation to personal vehicle ownership by 224% just in New York in 2021.