Study: Cincinnati is one of the cheapest places to park in North America

CINCINNATI - Downtown Cincinnati isn't known for offering easy commutes to drivers. Weaving in and out of traffic to avoid parked cars and trying to make sure you don't accidentally head the wrong direction down one of the seemingly endless number of one-way streets can make getting from point A to point B a pain.

There is a silver lining out there for all the commuters out there, however. A new study of annual parking rates by Colliers International finds the Queen City offers some of the cheapest parking in all of North America.

According to The North America Central Business District Parking Rates Survey, which looks at parking rates in the largest metropolitan areas in the United States and Canada, the average parking spot in Cincinnati costs nearly $40 less a month than that of this country's median price.

Parking rates in Cincinnati have shown a zero percent increase from last year and are now listed below the national average for monthly parking rates. The average monthly parking rate for an unreserved spot in Cincinnati is $125.40, which is $39.40 less than the national average of $164.80. By comparison, New York City-Midtown has the most expensive parking spots in North America, coming in at a staggering average rate of $562 per month.

A reserved parking spot in Cincinnati will set a person back approximately $190 each month.

Despite its relatively low prices, Cincinnati is slightly more expensive than the only other Ohio city to make this year's list. According to the study, Columbus offers unreserved parking spaces for around $95 a month and a reserved parking spot will cost around $135 a month.

In addition to Midtown New York City, Downtown Manhattan ($533), Boston ($405), San Francisco ($375) and Philadelphia ($313) comprise the list of the top five most expensive cities for parking in the United States.

While Cincinnati is considered inexpensive when compared to the national average, several cities, some of which you might now assume, have considerably less expensive parking rates than the Queen City. The five least expensive major cities for parking are Las Vegas ($65), Columbia, S.C. ($65), West Palm Beach, Fla. ($56), Phoenix ($55) and Bakersfield, Calif. ($55).

On average, the price for unreserved parking spaces increased by $5.47 (3.4 percent) to $166.26. Daily rates increased by an average of $17.19, up 2.9 percent from $16.71.

For a complete list of parking rates in cities across to North America, go to Colliers website for more information.

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