Seattle is expensive because of its housing costs, high demand and limited housing supply. The city’s prominent tech companies like Microsoft and Amazon contribute to high salaries and increased cost of living. Additionally, Seattle’s attractive natural setting and amenities make it a desirable place to live, pushing real estate prices upward. Fundamentally, Seattle’s high costs stem from high demand combined with constrained supply, whether for parking spaces or for homes.
Seattle uses “performance pricing” to manage parking spaces. The goal is to maintain two open spots per block. However, some areas have overwhelmed parking meters, particularly in Capitol Hill during the evening, where parking demand is extremely high. First Hill is the most expensive neighborhood to park in Seattle.
Parking Costs
- Downtown monthly parking ranges from $200 to $350.
- Capitol Hill parking is $0.50 per hour until 10 PM.
- The average monthly parking cost in Seattle is over $7 per day.
- Seattle is the third most expensive US city for parking.
- Approximately 10% of Seattle is dedicated to parking spaces, yet supply is lower than demand.
Note: Same information listed multiple times in different ways has been consolidated to avoid repetition.