2005 Q2 Parking Columbia Report

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Market Summary

Average monthly parking costs in Columbia’s Central Business District (CBD) garages remain constant around $76.00. Rates for reserved parking have increased slightly from $87.00 to $88.30 from 2004 to 2005, while unreserved rates have decreased from $66.00 to $63.83. This shows that businesses and individuals are willing to pay a premium for the convenience of a reserved parking spot, therefore increasing consumer demand for such spaces. Occupancies in parking garages are currently 79.58%, with about 1,600 parking spaces currently vacant.

The national average of unreserved parking is currently at $148.30, a 3.7% increase over 2004. Nationwide reserved prices average $198.61. In the Southeast, Columbia remains lower than most other major cities.

Class A Parking

Parking for Class A-adjacent garages remains in much higher demand than garages located elsewhere, with current occupancies at 94.96%, leaving only 195 parking spaces available. Reserved rates for Class A-adjacent garages average $96.33, while unreserved average $73.00, both much higher than the overall market.

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Columbia market report

2005 Q2 Parking Columbia Report

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