2020 Parking Structure Cost Outlook

Download WGI's annual statistical analysis of parking structure construction costs and market forecasts.

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Budgeting for your next parking structure

Did you know the median construction cost for a new parking structure has seen a 3.3% increase from 2019?

Gain access to WGI's annual Parking Structure Cost Outlook for in-depth historical cost information and analysis of hundreds of completed parking structure projects of varying size, scope, and geographic location.

Inside the paper

Before the COVID pandemic hit, the American Institute of Architect’s Consensus Construction Forecast Panel was projecting just a 1.5% increase in spending on non-residential buildings and the Engineering News-Record forecasts a 1.6% increase in the Building Cost Index.

As the economy starts to reopen, there is just too much ambiguity and not enough data yet to fully understand the complete impacts of the pandemic, but early indications point to a significant decline in the institutional (14% loss) and commercial (7% loss) sectors that traditionally build parking structures.

With the potential reduction in material costs, the reduced labor shortages, and increased competition, parking structure costs in 2020 may actually decrease in some regions.