Two hours of parking at $4 an hour costs $8 a visit. Twelve visits a month come to $96, or $1,152 a year. A $300 monthly permit only pays off past 37.5 visits a month. An adult who rides the TTC pays at most $155.10 a month under the fare cap.
What Toronto parking costs
Green P on-street rates run from $1.50 to $6.75 an hour, tax included, and they changed in April 2026. Downtown costs the most. Lots and garages set their own prices, and evenings often carry flat rates.
Reading the result
Start at the top. The large figure is your monthly parking cost. Below it sit the cost of one visit and the yearly total. Enter a permit price and the calculator shows how many visits a month make the permit cheaper than paying by the hour.
Weighing a monthly permit
A permit costs more up front but has no hourly charge. It suits people who park in the same place every day. Park only a few times a week and hourly parking is usually cheaper. Ask for a quote. Enter it.
Compared with the TTC
Since September 1, 2026, the TTC charges nothing after 47 paid trips in a calendar month. At the $3.30 adult fare, that limit is $155.10 a month. For many commuters this costs less than a downtown permit. Details are in the TTC fare cap calculator.
Costs beyond the parking
A car brings insurance, fuel, maintenance and payments, and parking is only one piece. Someone who owns a car mainly for weekend trips may spend less on a mix of the TTC, car share and the odd taxi. Count everything. Then decide.
Permits and tickets
Toronto sells residential on-street permits and boulevard parking permits, with fees the City updates each year. Those fees are not in this calculator, so check the City’s parking permit page for the price where you live.
Tickets can cost more than a day of parking. Read the signs, pay through the app and set a reminder before your time runs out. A small habit like that can save several hundred dollars a year, which is more than most people expect.
An example for a commuter
A driver who parks downtown 20 days a month for 8 hours at $4 an hour spends $640. A $300 monthly permit would cut that by more than half. On the TTC the same person would pay at most $155.10. Try your own routine.
Ways to cut the cost
Park a little farther out, where the hourly rate is lower, and walk or ride the last stretch of the trip, which often saves more than the extra ten minutes cost you. Look for lots with flat evening rates. Some workplaces offer parking or transit subsidies. Car share helps if you drive rarely.
Parking at home
Living downtown with a car can make home parking a large monthly cost. A condo spot can add tens of thousands to the price or hundreds to the fees. Count it when comparing homes, because it belongs to the true cost of keeping a car.
Where to go next
Add your car to the plan with the car loan calculator. See other local costs in the Toronto cost of living calculator. Track the total in the monthly budget calculator.
Frequently asked questions
How much does parking cost in Toronto?
Green P on-street rates run from $1.50 to $6.75 an hour, tax included.
When is a monthly permit cheaper?
When your visits a month exceed the permit price divided by the cost of one visit.
How much is the TTC monthly cap?
$155.10 for an adult, which is 47 trips at $3.30.
Are parking rates the same everywhere?
No. Prices differ by street, lot and time of day.
Does the calculator include residential permits?
No. Check the City's permit page for those fees.
Is parking tax included?
Green P on-street rates include HST.
Sources and updates
Last reviewed: . Full disclaimer. How we build calculators. Editorial policy.
Estimate only. This calculator gives general information for planning. It is not tax, legal or financial advice, and it is not affiliated with the City of Toronto, MPAC or the Canada Revenue Agency. Results depend on the numbers you enter and may differ from official amounts. Check official sources or a qualified professional before you decide.