Hour range | Transient revenue | Transactions |
---|---|---|
8am-10am | $479.00 | 120 |
10am-2pm | $551.25 | 174 |
2pm-6pm | $198.25 | 100 |
total | $1,284.25 | 440 |
Projected Average Utilization
58.1%
58.1%
More data: 1) Map of meters and lots, 2) All WPRDC parking data
Definition of utilization
A utilization metric can be calculated to estimate the level of parking purchases in a given time interval.As this utilization calculation is based only on the time at which parking is purchased, it does not represent a good estimation of the occupancy of a particular lot or zone. (Specifically, if someone pays at 8am for four hours of parking, all of that revenue is counted in the 8am-10am slot in this calculation, even though a parking space was paid for through noon.)
The formula used for calculating utilization is
Utilization = (Revenue from parking purchases during time slot) / (Revenue if all spaces are paid for during time slot)
Transient utilization (utilization excluding lease revenue and spaces) would be
(Revenue from parking during time slot) / { (space_count - 0.85×lease_count) × (rate per hour) × (the number of days in the time span where parking is not free) × (duration of time slot in hours) }
Here we assume 85% occupancy of leased spaces as a reasonable estimate. (space_count - 0.85×lease_count) is an effective space count (the number of parking spaces expected to be available for everyday purchase). By adding in the lease utilization, we can calculate the total utilization:
Utilization = ([Transient utilization]×[effective space count] + 0.85×lease_count)/space_count
= (Revenue from parking purchases during time slot) / { space_count × (rate per hour) × (the number of days in the time span where parking is not free) × (duration of slot in hours) }
+ 0.85×lease_count/space_count
or more concisely:
+ 0.85×lease_count/space_count
Utilization = revenue / (space_count × rate × days × hours) + 0.85×lease_count/space_count
The source data for the table above can be found here and the space counts, rates, and lease counts may be found here.
Zone/lot features for selected lot
Selected lot: 301 - Sheridan Harvard Lot
Rate: $1.00/HR, Space count: 41, Lease count: 17
Selected lot: 301 - Sheridan Harvard Lot
Rate: $1.00/HR, Space count: 41, Lease count: 17
Date range for selected time range ⓘData available from 2014-01-02 to 2023-03-26.
Selected range: 3/2022 (27 metered days)
Start datetime: March 1, 2022, midnight
End datetime: April 1, 2022, midnight
Selected range: 3/2022 (27 metered days)
Start datetime: March 1, 2022, midnight
End datetime: April 1, 2022, midnight