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700,000 carless renters pay extra 13 percent for unused garage parking

posted Aug 7, 2017, 2:03 PM by Chris McCahill   [ updated Aug 7, 2017, 2:06 PM ]

A new study finds that garage parking costs the average renter an additional $1,700 per year (17 percent) nationwide. For the average carless renter, the extra cost of unused parking is $621 per year (13 percent). That amounts to $440 million in losses across more than 700,000 households. This doesn’t include units with surface parking, which are less expensive but make up another 45 percent of apartments, so the total cost is likely much higher.

Read more at SSTI news.