How Much is a Parking Space Worth?

• February 28th 2022

by UrbanTurf Staff

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It has been a few years since UrbanTurf examined the cost of a parking spot in and around Washington, DC. So today, we decided to look again at the current market price for a parking place in neighborhoods around the region.

The average price for a parking spot in the DC area really hasn't changed much over the last decade. That average hovers somewhere around $25,000-$30,000, going up and down based on the neighborhood.

Based on our research, Georgetown, Foggy Bottom and West End boast the highest prices for individual spaces (more on this below). The lowest prices for spots are found east of the Anacostia River. 

Here’s a sampling of what we found on the market:

• $10,000 for a surface space in Congress Heights
• $22,500 for a garage space in Van Ness
• $25,000 for a garage space in Hyattsville 
• $39,000 for a garage space in SW DC. 
• $45,000 for a garage space in Georgetown. 
• $50,000 for a garage space in Foggy Bottom. 

Like listing prices, the number of days that these spaces have been on the market vary significantly, ranging from a week to almost nine months. The most expensive parking spot to sell in the area over the last year was at the West End Place condos in DC (map). It sold for $70,000 in June of last year. 

This article originally published at http://dc.urbanturf.production.logicbrush.com/articles/blog/how-much-is-a-parking-space-worth/19324.