See How Much More You Pay To Park In NYC Than Other Cities

NEW YORK, NY – If you don't already know this, you don't drive in New York City. Parking in the five boroughs is more expensive than in any other major metro in the U.S., according to a new report.

A new parking index released by Parkopedia looks at rates in the central business districts of the top 40 U.S. cities – it doesn't factor in on-street parking. The rankings are divided by hourly, daily and monthly parking rates and New York City has the highest rates in all three categories.

To create the index, Parkopedia used data from more than 650 parking facilities that cover more than 300,000 spaces. Prices were calculated as the median of corresponding parking rates for all publicly available off-street parking facilities in a city center.

According to the index, the median hourly parking rate in NYC’s city center is $27. By comparison, Chicago and Boston had median hourly parking rates in excess of $15.

The cities with the highest median hourly parking rates are:

1. New York City: $27
2. Chicago: $17
3. Boston: $16
4. Philadelphia: $12
5. Washington D.C.: $11
6. Minneapolis: $10
7. Los Angeles: $9.50
8. Cleveland: $9
9. Detroit: $9
10. Denver: $8

New York City’s median daily parking rate is $42.25, according to the index. After New York City, Boston and Chicago have the highest median daily parking rates.

The cities with the highest median daily parking rates are:

1. New York City: $42.25
2. Boston: $34
3. Chicago: $30
4. San Francisco: $28
5. Miami: $25
6. Philadelphia: $25
7. Bellevue: $24
8. Seattle: $24
9. Minneapolis: $23
10. Charlotte: $21

The monthly median parking rate in New York City is a whopping $616 for unreserved monthly parking, meaning parking in a guaranteed but not a dedicated space. After New York City, Boston and San Francisco have the highest monthly parking rates for unreserved spots.

The cities with the most expensive median monthly parking rates for unreserved spots are:

1. New York City: $616
2. Boston: $425
3. San Francisco: $322.50
4. Seattle: $289
5. Philadelphia: $284.50
6. Washington D.C.: $274
7. Chicago: $265
8. Minneapolis: $260
9. Pittsburgh: $235
10. Bellevue: $222

Parkopedia did not rank New York City in the fourth category: median monthly reserved parking rates, which means parking in a guaranteed and dedicated space. In that category, Washington D.C.had the highest median monthly rates.

The cities with the highest median monthly rates for reserved spots are:

1. Washington D.C.: $555
2. Boston: $550
3. Chicago: $547
4. Los Angeles: $418
5. San Francisco: $410
6. Seattle: $400
7. Baltimore: $375
8. Philadelphia: $370
9. Pittsburgh: $355
10. Bellevue: $325

You can see the full report here.

Reporting by Feroze Dhanoa/Patch

(Photo by Nicholas Hunt/Getty Images)