Fun Facts – Parking II

Knox News (via Market Urbanism) reports that the US has roughly 1 billion parking spots. That’s nearly 3 for every car on the road and adds up to roughly 4,000 square miles of total area (a tad less than the total area of Connecticut).

In the US, the average price for land is $1000 per acre. That equals $640,000 per sq mi. That means we have land worth roughly $2.5 billion assigned to parking. And since parking tends to exist in more valuable areas, that figure is likely massively understated.

No specific point here. But wow.

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