The Great Parking Paradox: How LA's Car Obsession is Costing Us a Fortune (and How Transit Can Fix It)
Ever feel like Los Angeles is just...a little too car-centric? Like we're living in a giant parking lot with buildings scattered around? Well, you're not wrong. Today, let's dive into a topic that might surprise you: the absurd financial cost of our love affair with cars, specifically when it comes to parking. It turns out, our obsession with parking spots is not just a matter of convenience; it's a massive drain on our resources, and better public transit could be the key to unlocking a much more prosperous and efficient city.
The Cost of Cars: More Than Just Gas Money
Now, I'm not here to tell you cars are evil. They can be a necessity. But the sheer cost of car dependency, beyond gas and insurance, is staggering. And the biggest hidden cost? Parking.
Let's start with some very rough estimates:
Mass Transit (Historical Investment): Over the past few decades, LA has invested a substantial sum in its bus, light rail, and subway systems. This includes everything from building lines to operating vehicles. We're talking about a ballpark of $50 to $100 Billion. This is a lot of money, but as you'll see, it pales in comparison to another major transportation expenditure.
Bike Lanes: Compared to mass transit, bike lanes are relatively cheap. A few coats of paint, some bollards, and occasional maintenance come out to about $100 - $200 Million over the years.
The Parking Beast: Now for the shocking part. Let's talk about parking. Think about all the parking spaces in Los Angeles County—every garage, every driveway, every strip mall lot. We're looking at least 11.5 million parking spaces (could be 18 million according to other sources) between off-street and on-street spots. Now, imagine each of those spaces is a piece of real estate. Even in the less dense residential areas each spot is taking up a very large piece of land. If we were to value the cost of the land itself, you may be surprised to know that each parking spot in LA is probably worth around $10,000 (more or less, in some areas it’s a lot more). This comes from taking a look at both the downtown and the residential zones and coming up with a reasonable average. This isn't the value of the cars themselves of course, it is purely the value of the land dedicated to parking. Doing the math, 11.5 million parking spots at an average of $10,000 each, and the total cost of parking in LA is an astonishing $115 Billion.
That's right – the real estate tied up in parking spaces alone is more than our historical investment in mass transit, and it's certainly much more than our investment in Bike Lanes!
Think about it. It's not just the land that's wasted; it's the potential. Each parking spot represents a piece of land that could be a park, an affordable apartment, a community garden, a small business, a bike lane, or even new transit infrastructure.
The Case for Mass Transit: Not an Expense, but an Investment
Now, you might be thinking: "But mass transit is expensive, too!" And you're right, it costs a lot to build and run a public transport system. But here's the thing: when we're talking about the real estate value alone of parking, it's abundantly clear that we are seriously under investing in the things that move people around in a modern city. The actual land that is taken up by parking is far more costly than any mass transit system and it has significantly less utility.
Mass transit saves money in several key ways:
Reduced Land Waste: Building a robust public transit system means less demand for parking. Less parking means more room for, well, everything else! The value of the land is not being leveraged by parking, which is an incredibly inefficient use of space.
Increased Accessibility: Better transit gives people more options for getting around, making car ownership less necessary. This is critical for lower-income individuals who are disproportionately burdened by the high costs of car ownership and fuel.
Economic Boost: Mass transit connects people to jobs, education, and entertainment, fueling local businesses. Cities with great transit are more vibrant and economically productive.
Environmental Benefits: Reducing car dependency means less pollution and cleaner air for everyone.
Reduced Healthcare Costs: Studies show that active modes of transit, such as walking and biking, can significantly improve health outcomes. This leads to lower healthcare spending for the population as a whole.
The Challenge Ahead
Transforming LA from a car-centric city to one that prioritizes public transit isn't easy. It'll require bold political action, changes to zoning laws, and investments in public transit infrastructure. It’ll mean that the people who are profiting from parking will have to see their profits reduced for the betterment of the public. It also requires a shift in our mindset – we need to see mass transit not as an expense, but as a powerful investment in our collective future.
It might seem daunting, but the potential benefits are enormous. By reclaiming parking spaces for more productive and community-oriented uses, we can create a more vibrant, affordable, and livable Los Angeles.
Thanks Phillip for this much needed analysis of the land value given away for parking in LA. Obviously other large North American regions are similar, except for New York City. Land value taken up by parking is a much more impactful measure than mere area. In addition to building more rapid transit lines, cities need to reduce the amount of parking, by taxing it at a higher rate, implementing a parking surcharge, demonstrating the much higher value & profitability of building on parking land etc. Portland's reduced parking downtown incrementally. Cities, states, & countries make it far too easy to drive and park anywhere & everywhere. NYC's Congestion Relief Charge shows the enormous human scale improvement that can result. And no, the sky isn't falling, businesses are still thriving & getting busier, people can get around easier, faster, & safer. We need to normalize this. Amsterdam, Paris, London, Singapore, & other cities show that congestion reduction is a huge boon to cities.