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Toronto ranked second most expensive city in Canada to park

TORONTO, Ont. – Parking rates across Canada climbed over the past year with Toronto in the second most pricey spot, according to an annual survey by Colliers International.

The 10th annual survey found the monthly cost in Toronto increased by $60 from 2009 to an average of $336.26 in 2010.

At Yonge and Bloor, motorists shared their opinions with 680News.

“That’s car insurance and gas bills. Add in parking, you’ve doubled my cost,”  said Mike, who paid approximately $150 per month a decade back, and now takes public transit to work.

“If I had to pay for parking, honestly I’d park probably five six blocks down where it’s cheaper, and I’d just walk it,” said Tanya, who would like to see average prices drop by even a few dollars.

“I think if you go literally five blocks down or four blocks down, down a side street, you can get maybe $17.”

The money saved would help Bev out a great deal.

“It can go towards hydro or even my personal taxes,” she said.

Of the 12 major Canadian cities surveyed, Calgary, Atla., was ranked the most expensive city to park in with a cost of $453.38 a month, on average.

Calgary was also ranked number 14 on the global list of the most expensive cities to park — the only Canadian city that made it into the list.

However, these monthly rates may appear inexpensive in comparison to some international cities.

“London was actually $993. Hong Kong $744. Tokyo was $656,” said Wayne DeWong of Colliers International.

List of monthly parking rates across Canada:

  • Calgary — $453.38
  • Toronto — $336.25
  • Montreal — $280.62
  • Edmonton — $275
  • Vancouver — $266.81
  • Victoria — $180
  • Regina — $162.75
  • Ottawa — $160
  • Halifax — $158.20
  • Winnipeg — $152.25
  • Saskatoon — $147
  • Kitchener-Waterloo — $116.94

List of monthly parking rates around the world (U.S. rates):

  • London — $933
  • Hong Kong —  $744.72
  • Tokyo — $654
  • Zurich — $605.64
  • Sydney — $591.28
  • Midtown New York – $538
  • Calgary — $453.38
  • Boston — $425
  • San Francisco — $375
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