How Much Is A Parking Spot Worth In DC?

• March 3rd

by UrbanTurf Staff

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Today, UrbanTurf decided to look again at the current market price for a parking place in neighborhoods around DC.

The average price for a parking spot in the city has essentially remained the same over the last ten years. That average hovers somewhere around $30,000-$40,000, going up and down based on the neighborhood.

Neighborhoods like Penn Quarter, Georgetown and West End boast some of the highest prices for individual spaces, while lower prices for spots are found in Takoma and Petworth.

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

• $20,000 for a small parking space in Forest Hills. 
• $25,000 for a garage parking space in Takoma.
• $25,000 for a garage space near the Southwest Waterfront. 
• $35,000 for a garage space in Penn Quarter. 
• $40,000 for a garage space in West End.
• $55,000 for a garage spot in Columbia Heights. 

Like listing prices, the number of days that these spaces have been on the market vary significantly, ranging from a week to almost two years. 

Note: Since publication of this article, we have learned that many parking spaces in Georgetown have sold off-market for upwards of $100,000 to $200,000 over the last year, making it the most expensive neighborhood in the city for parking spots.

This article originally published at http://dc.urbanturf.production.logicbrush.com/articles/blog/how_much_is_a_parking_spot_worth_in_dc/23251.