Facts & Figures
COVID-19 Impact: On-Street Parking
On-street parking activity in a random sample of 511 zones/blocks across the US (averaging 136 parking spaces/block) dropped 80%-90% since the National Emergency declaration on Friday March 13, 2020, a sign of social distancing in action.
Year-Over-Year (YOY) parking activity trends dramatically reversed course before and after the COVID-19 outbreak: going from a 10%+ YOY increase, to an 80-95% decrease compared to the same time period of last year. On-street parking revenue followed the same trend, indicating more severe changes than transactions.
Likewise, the daily peak occupancy of 500 randomly selected sample on-street parking zones across the country shows a very clear change of pattern before and after Friday, March 13th. Before, similar but slightly busier/higher daily peak occupancy in 2020 than in 2019. After, it dropped day by day all the way down to less than 10% of the total capacity, indicating a 80-95% demand loss.
COVID-19 Impact: Off-Street Parking
The operations of both city-owned and privately owned off-street parking seem to generally follow the similar trends. A collection of 935 sample off-street parking sites, including both privately owned and city owned sites, shows a similar trend as on-street parking: prior to the COVID-19 crisis: ~10% YOY increase, indicating positive growth in American businesses in general. Following March 13th 2020, in an accelerated manner, parking activities dropped rapidly by nearly 90%.
As of July 8th, 2020, nationwide Year-To-Date (including Q1 2020) stats compared to 2019:
US Off-Street Commuter Parking Activities: -63%
US Off-Street Visitor Parking Activities: -76%
US Off-Street Visitor Parking Revenue: -78%
US On-Street Visitor Parking Activities: -63%
US On-Street Visitor Parking Revenue: -65%
*Data from 500 randomly selected parking garages, 500 on-street parking zones/blocks, and 400 surface parking lots across USA. As of April 28th, 2020
Visit Smarking's Market Watch Daily Digest for more information.
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