C/O Saskatoon Star Phoenix
Expect to pay between $155 to $182 per month for the average parking spot in the city downtown core.
ICR Commercial Real Estate's Parking Survey 2013 shows rates downtown are up three per cent from last year, says ICR market research analyst Alvaro Campos.
"The demand for parking is high and space is limited which is causing upward pressure on the rates," Campos said. "Almost every single parking stall is gone."
Demand is so high - there is a waiting list to get into underground spots - whenever a building is torn down, odds are a parking lot will take its place, at least on an interim basis.
"Buildings that have been demolished (like the McDonald's on 22nd and Second Avenue or the Patricia Hotel on Second Avenue) that have future plans for construction ... they are parking lots," Campos said. "It is a great way for income."
Yet Saskatoon still has very affordable pricing compared to places like Calgary. "You are in the mid-$400s (per month) in places like Calgary," he said.
Regina has comparable rates to Saskatoon with a median range of $160 to $187 per month.
The national median for parking is around $250 per month.
Hourly rates in Saskatoon average $2 and daily rates range from $8.50 to $9.
Saskatoon Downtown Core Parking Rates
Median Maximum Minimum
Surface unpaved $145 $240 $80
Surface Paved $155 $300 $89.25
Surface Paved/plug-in $170 $225 $75
Covered $165 $200 $100
Underground $235 $399 $200
Total downtown $180 $399 $80
Random 24/7 $155 $250 $80
Reserved 24/7 $399 $95 $182.50