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Parking Options to Consider When Renting Your Next Apartment

When you're looking to rent your new home there is much more than the basic rent fee that you need to account for. Other bills include electricity, internet, furniture, heat, gas and more, but how much would you add on to park your car? 

According to Multifamily Executive, in a survey of 84,000 renters across the country, 67% of own a car and 21% of renters own two cars, meaning that 88% of people will need somewhere to park. 

But there are a number of different parking options in most cities, all with a variety of prices. But how much are renters willing to pay for a dedicated spot, or even a covered spot rather than have to deal with open parking? 

The survey showed that 60% of renters would pay for a dedicated parking spot, with 46% saying they would pay $25 a month for a reserved outdoor spot and 14% saying they would pay $75 a month for a reserved carport. 

Credit: Multifamily Executive

The results showed that almost all demographics were willing to pay for a spot, but the older the driver, the more they were willing to contribute to ease the hassle of finding an open spot. 

How important is it that your rent includes a dedicated spot to park?

Contact our advisors today to find your new apartment and discuss parking options in your neighborhood.