Parking Cost Calculator

Monthly parking cost calculator helps commuters and city dwellers understand the true annual cost of parking and compare options like monthly permits, daily rates, and garages vs. street parking.

The core formulas:

Monthly Parking Cost = Daily Rate × Working Days per Month

Annual Parking Cost = Monthly Cost × 12

Break-even Daily Rate = Monthly Permit Price / Working Days per Month

True Hourly Rate = Daily Rate / Hours Parked per Day

What each variable means:

• Working Days per Month: typically 20 to 22 days for a full-time commuter
• Monthly Permit: a flat fee for unlimited parking, usually cheaper if you park daily
• Break-even Daily Rate: at this daily rate, the monthly permit and daily pay rates cost the same
• True Hourly Rate: useful for comparing garages that charge different hourly rates but cap at a daily max

Worked example: Downtown garage: daily rate $18, monthly permit $280. You commute 21 days/month.

Monthly cost (daily rate) = $18 × 21 = $378/month Monthly cost (permit) = $280/month Monthly savings with permit = $378 less $280 = $98/month Annual savings = $98 × 12 = $1,176/year

Break-even daily rate = $280 / 21 = $13.33/day. If the daily rate is above $13.33, the monthly permit is cheaper.

You can read the same comparison the other way round, and this is the version that actually helps a hybrid-schedule commuter. At $18 a day the $280 permit pays for itself on the 16th day of the month. Come in three days a week and you are at roughly 13 days, so pay-as-you-go wins. Come in four days a week and you are at 17, and the permit wins. That one day either side of the line is the whole decision.

Typical monthly parking costs by city (US, 2024):

• New York City: $500 to $700/month
• San Francisco: $350 to $550/month
• Chicago: $200 to $350/month
• Houston/Dallas: $100 to $200/month
• Suburban areas: $50 to $150/month

Parking is often the second or third largest commuting expense after fuel. Consider remote work days, public transit, or bike parking to reduce this cost.

This page works in days per month and answers one question: pass or daily rate. For the annual and career figure instead, and for what the same money would be worth over ten and thirty years, use the annual parking cost calculator. It counts in days a week and weeks a year rather than days a month, so its annual total runs a little under this one on the same rate.