What does it cost to rent a car park in Melbourne CBD?

If you work in the city or live in an apartment without a bay, renting a car park is usually far cheaper than paying daily rates. A commercial car park in the CBD can run $25 to $40 a day. A leased bay in the same area is generally $220 to $365 a month — often less than a fortnight of daily parking.

This guide covers what you should expect to pay across Melbourne, what changes the price, and the questions worth asking before you commit.

Typical monthly car park rents in Melbourne

Across the bays Touchwood manages, monthly rents currently sit in these bands:

• Inner suburbs such as Carlton, East Melbourne and St Kilda: roughly $220 to $250 a month
• Docklands and South Wharf: roughly $240 to $290 a month
• Melbourne CBD proper, including La Trobe Street and the immediate city grid: roughly $290 to $365 a month

These are rates for a single secure bay on a month-to-month licence. Rates in any building move with demand, and a bay with a wider footprint or better access will sit at the upper end of its band.

What actually drives the price

Four things account for most of the variation between two bays that look similar on paper.

**Walking distance to where you need to be.** This matters more than the suburb name. A bay a three-minute walk from Southern Cross will price above one fifteen minutes away in the same postcode.

**Access hours.** A bay with genuine 24/7 access is worth more than one tied to building hours. If you work shifts, or want the car available on weekends, confirm this before anything else.

**Security.** Secure boom or swipe access, lighting and camera coverage all lift the rate — and they are worth paying for. An unsecured open-air space in the same street can be $50 to $80 a month cheaper, and that gap reflects real risk.

**The bay itself.** Width, column placement, clearance height and whether you have to reverse around a tight corner all matter. A bay rated for an SUV or a dual cab prices differently from one that only comfortably takes a hatchback.

What to check before you sign

• **Clearance height**, if you drive anything taller than a sedan. Many older CBD buildings run 1.9 to 2.1 metres, which rules out roof boxes and some four-wheel drives.
• **Access method** — swipe card, fob, app or remote — and what a replacement costs if you lose it.
• **Notice period.** Month-to-month with one month's notice is standard and is what you want. Be cautious of anything asking for a fixed twelve-month term on a parking bay.
• **Whether the rate is inclusive.** Ask specifically about owners corporation fees and any access-card charges.
• **Visitor and overnight rules**, if anyone else will occasionally use the space.

Is renting a bay cheaper than daily parking?

For anyone parking in the city more than about eight days a month, a leased bay is almost always cheaper. At $30 a day, eight days is $240 — roughly the monthly rate for a bay in Carlton or Docklands with unlimited access.

The calculation changes if you only come into the city occasionally, or if your employer subsidises parking. It also changes if you can sublicense the bay on weekends, though you should check your agreement permits that before assuming it.

Renting out a bay you already own

If you own a car space you are not using — a common situation for apartment owners in the CBD and Docklands — it can be leased separately from the apartment in most buildings. A bay returning $250 a month is $3,000 a year against essentially no maintenance cost.

The main things to get right are the licence terms, insurance, and confirming your owners corporation rules permit leasing to a non-resident. Some buildings restrict this; most do not.

Available bays

Touchwood manages secure car park bays across Melbourne CBD, Carlton, Docklands, South Wharf, East Melbourne, South Yarra, St Kilda and Kew, all on flexible month-to-month terms. You can see current availability, photos and pricing for each bay on our car parks page.

If you own a bay and want to know what it should be earning, we will benchmark it against comparable spaces in your building and suburb at no cost.