Dethroning The Automobile: The Price Of Parking

Posted: November 16, 2012 in Parking

a nice little piece shedding some light on the economics behind parking.

MassCommons

Standard economic theory is if the price for a commodity is kept artificially low, the demand will rise.  And that’s certainly true for the 8,000 metered parking spaces on the streets of Boston.  Downtown on-street parking costs just $1.25/hour…if you can find an open meter. And you’ll want to find a meter if you’re trying to park in downtown Boston, because the alternative is paying $11-15/hour to park in a garage.

Boston Magazine’s Patrick Doyle offers a two-part solution to Boston’s parking woes:

  • smart parking meters, which can charge more for parking during periods of high demand and less when fewer people are looking for spaces. The goal would be to always have one or two free spaces on any given block.”
  • “we also need to start making people pay for residential parking permits.

View original post 112 more words

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