Over 50% of New York City residents rent their homes, and with an ever-decreasing vacancy rate, the process of finding a rental can be long and frustrating. But what about the car?
New residential buildings are cropping up every day, and many builders are beginning to offer on-site parking options to combat the ongoing problem
of finding street parking. A recent Trulia report surveyed some of the worst neighborhoods in NYC to find street parking in and compared the results with rental buildings in each area that offered parking. The results may surprise you.
It’s no surprise that Manhattan’s top neighborhoods also top the list for worst areas to find street parking. From Midtown all the way to the Financial District, finding parking can be nearly impossible. What Trulia found was that these areas were also some of the tops of the list when it came to rental buildings that offer parking.
Tudor City stands out as a difficult neighborhood for street parking (Parking Score of 18 – where 0 is the hardest, and 100 is the easiest to find a a spot), but the neighborhood with the highest percentage of rentals including a parking spot (33%). Koreatown however is on the opposite end: scant on-street parking (Parking Score of 12) and slim chances of finding a rental with parking (4%). Renters here, and most of Manhattan, will need to turn to the private market to find monthly parking in New York.
Brooklyn, the Relative Parking Haven
The trend in Brooklyn is a bit different. In recent years, waterfront neighborhoods have surged in popularity, and new construction can be seen everywhere. It’s no surprise that Vinegar Hill/DUMBO and other areas close to Downtown Brooklyn like Boerum Hill and Cobble Hill are among the worst for street parking.
However, only Vinegar Hill and DUMBO make the top 10 when it comes to rentals with dedicated parking. In fact, it is residential areas in further reaches of Brooklyn where driving is more prevalent – like Brighton and Manhattan Beach, Sheepshead Bay, and East Flatbush – that renters have the best chance of finding a building with on-site parking.
While thinking about your car’s comfort may not top your rental search requirements, remember that the more popular the neighborhood, the less of a chance of finding street parking. If circling the block for hours waiting for a spot to open isn’t your thing, consider finding a building that takes the headache out of parking.