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2019 Columbia Parking Report

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Columbia market is prime for new parking options

Key Takeaway

  • Columbia, S.C.’s vacancy rate for parking garages in the Central Business District remains low at 16.14%.
  • Tight parking conditions will allow owners of parking options to increase rates.
  • Continued Columbia residential growth increases retail and office activity and raises the demand for parking in Columbia garages.

Downtown Parking Conditions

The lack of available parking spaces in Columbia is a deterrent for attracting new office and retail tenants and new development. There are 19 parking garages available to Columbia tenants and visitors and they are 83.86% occupied. There are only 2,039 total garage spaces available scattered throughout downtown Columbia-hardly enough for new development. In addition, customers of Columbia retailers only have 69 out of 985 available surface lot parking spaces available to choose from when shopping downtown. The surface parking lot at Washington and Lincoln Street is now being built upon; therefore, 94 surface parking spaces were lost. Despite efforts by the City of Columbia to install parking meters along the roadways, metered spaces are often full or not located near the desired consumer location. The lack of parking is prohibitive to customers in the region; therefore, they will often choose to shop in other retail areas rather than parking and walking a long distance to stores, or not being able to find an available parking spot.

The minimum price for reserved parking spaces remained $75.00 per month during the second quarter of 2019. In addition to parking garage space, there are 13 public surface parking lots in downtown Columbia, with spaces that may be rented hourly, daily or monthly. The average monthly parking lot space prices range from $40 per month up to $300 for daily meter parking lots, paid on a monthly basis. There are currently a total of 166 parking spaces which may be purchased on a daily or monthly basis within the City of Columbia Passport lots. In addition, there are 133 two-hour-limit parking lot spaces. 

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2019 Columbia Parking Report

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Crystal Baker

Research Manager | South Carolina

Columbia

I am responsible for the collection of market data and the interpretation and reporting of key research insights for the state of South Carolina. I produce and distribute approximately 65 market reports per year for various property types including office, industrial, retail, multifamily, hotel, construction and parking. I manage research interns who collect the data for market reports and other projects. I am responsible for coordinating with regional and national researchers to produce branded thought leadership content. I am also involved in on-demand research projects for brokers and their clients as well as research initiatives related to the expansion of Colliers’ corporate services and advisory offerings across South Carolina. I strive to be an asset by providing the highest level of market intelligence. 

My experience in commercial real estate administration gives me a deeper understanding of the terminology and real estate processes, allowing me to provide the highest quality of research services to Colliers’ clients.

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