Park Place in Monopoly: Rent, Strategy (Complete GUIDE!)

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Park Place is an Expensive place to land on or buy in Monopoly. However, landing on it to pay rent is even more difficult as the rent is high too.

In this post, I will discuss about the Space named Park Place in Monopoly, its complete detail, strategy, how it looks and resembles a place in real life, and more.

Park Place in Monopoly

Let’s get started!

What is Park Place in Monopoly?

It is the second-to-last space of property on the Monopoly board. You can easily recognize it on the boardwalk by ut dark blue house.

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It forms an aggregation of properties. The present color of the parking place in Monopoly is dark blue, but some people also refer to the color as purple.

The first two property units of Park Place are marked brown in the modern version of Monopoly.

Park Place is the name for the American version, whereas the same space is known as Park Lane in the UK version of Monopoly. 

How much is Park Place in Monopoly?

Park Place is the second most expensive property on the Monopoly board.

The buying cost for Park Place is $350, whereas the mortgage cost is $175.

It will cost $200 to buy houses in Park Place, whereas players have to pay $200 and four houses for any hotel in Park Place.

The prices are similar to the ones in the Green Monopoly spaces. 

Park Place Deed With Cost, Rent, building Houses Detail

Here is a detailed table containing all information present in the Park Place Deed.

Find Cost of Owning, building houses, hotels.

Also, I included the mortgage price and rent amount for different cases.

Space Name: Park Place Amount(in $)
Cost Of Owning $350
Mortgage Price $175
House Building Cost $200 Per House
Hotel Building Cost $200 (You already need 4 houses to build the hotel)
Rent With 1 house $175
Rent With 2 houses $500
Rent With 3 Houses $1100
Rent With 4 Houses $1300
Rent With Hotel $1500
Detailed information about the Monopoly Park Place Deed Cost, Rent, building houses and hotels

Is Park Place worth it in Monopoly?

If you buy Park Place in Monopoly, the players who will land on this space will pay your rent at the rate of $35.

If you own the Boardwalk along with Park Place, your rent will be doubled to $70.

In addition to Park Place, if you add one house to the property, the increased rent will be $175.

 The same amplifies to $500 if two houses are added. With a third house, the rent is $1100, and with four houses, it is up to $1300.

If you one the Park place with a hotel, every player who lands in your place will pay you the rent of $1500 every time. 

You have to pay only $350 for buying the Plarkplace, whereas the rent received is multi folds higher.

So, investing in Park Place is one of the best deals regarding Return on Investment.

Park Place is undeveloped property, so it is one of the best places to invest in the monopoly board.

With $35 as the rental rate, you will make a 10% ROI every time a player lands on this place and pays rent. 

Playing Strategy With Park Place in Monopoly

Many players have an inherent question – whether buying Park Place will help them win the Monopoly game.

Or what is the best strategy for winning the game with Park Place in Monopoly? 

The first task is to understand that Park Place is an underdeveloped property.

So, the ROI is quite high in this region. With little investment, every rental payment can bring you a 10% profit. 

However, whether buying Park Place will benefit your game or not depends on your adopted game strategy. In general, buying a Park Place is quite beneficial for the game.

Especially if there are hotels in Park Place, they are quite beneficial for buying. Buying a Park place may also prove to be harmful to the game, but payers can understand that only as the game unfolds. 

The ROI for underdeveloped properties keeps increasing as the player goes around the board.

The Boardwalk is also an underdeveloped property with an ROI of 12.5%.

The rent keeps increasing with the increasing number of houses in the Park Places.

It increases, even more, when there are hotels in the space. If the players want to make a huge profit from the Park Places, they need to own the Boardwalk along with the Park Places. 

Probability of Landing on Park Place in Monopoly

You must be thinking by now, how likely is it that a player can land on Park Place? In monopoly, when the player rolls two dice, there is a 16.67% chance of rolling a 7.

The next two common rolls are 6 and 8, each with a possibility of almost 3%. Whereas the chances of rolling double-six are 2.78%.

So, you can clearly understand that it is highly probable that you will get a 7. 

Now comes the most important part. It is almost impossible to land on Park place if you roll 7 in your dice. You can easily calculate how far you can land on Park Place.

When you roll a 7, you can move to the jail because 7 spaces in front of Park Place is the Go to the Jail option. If you roll 7, there are high chances that you may have to go to jail instantly. 

Is Park Place better than Boardwalk?

When calculated in terms of Return on Investment, Boardwalk is better than Park Place. Park Place yields an ROI of 10%, whereas the Boardwalk yields 12.5%.

The Boardwalk is also the most expensive property to buy on the Monopoly board, and second, on the list is Park Place. Buying property and developing both these spots are quite expensive.

However, one can always invest in better property for higher ROI. Though Boardwalk is better yielding than Parkplace, players tend to buy Park Place most of the time because it is cheaper than Boardwalk. 

Is Park Place in Monopoly A Real Location?

Yes. Park Place is a real location. It is situated in the Atlantic city of New Jersey, right beside Brighton Park. Most properties in Monopoly exist in real life. 

Park Place of Monopoly in Real Life

Just like several other Monopoly properties, Park Place exists in real life. It was named resembling a very famous street in Atlantic City in New Jersey.

There is an actual park in this location, after which Park Place is named. The nearest landmark is Brighton Park. In real life, Park Place and Broadwalk intersect with each other at a point.

This point commemorates Charles Darrow, who first created the Monopoly game. 

Park Place location in Real Life from Google Maps
Image of Park Place location in Real Life from Google Maps using Street View

[Source]

What is Park Place in Monopoly based on?

Park Place is the second most expensive property on the Monopoly Board. It is named after a real place n the Atlantic City of New Jersey. Park palace is a high-yielding place for players.

Any player who owns Park Pace is entitled to high rents, especially if there are houses or hotels in Park Place.

Park Place in Atlantic City, New Jersey using Satellite View in 3D Mode
Park Place in Atlantic City, New Jersey using Satellite View in 3D Mode

Some Attractions Nearby

Park Place and Boardwalk are located in the Atlantic City of New Jersey. The Boardwalk is the city’s most iconic location.

You can take a stroll and spend some time on the marvelous Boardwalk.

Also, enjoy rides in the steel piers while in New Jersey. 

Monopoly Park Place FAQs

How much does it cost to Unmortgage Park Place in Monopoly?

The price for unmortgaging Park Place is $193. This is mostly applicable in the electronic banking version of Monopoly. The price is calculated as – the original mortgage amount($175) plus 10% interest on the amount. It sums up to something near $193. After repayment of the mortgage, the Title Deed Card Faceup can be returned. 

What is rent on Park Place without any houses or hotels in Monopoly?

The rent on Park Place without any house or hotel is $35. If any player owns both Park Place and Boardwalk and someone lands on the properties, they have to pay a rent of $70 to the owner. With added properties, the rent keeps rising.

Conclusion

Let’s conclude the post on Park Place in Monopoly!

Though Park Place is an expensive space, it has several benefits as explained in this post. I hope you will now be able to set your strategy with any expensive spaces like Broadway or Park Place in the game.

I hope you enjoyed reading the post.

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By Basana Saha

Basana Saha has expertise working for more than 25 years as a beautician. She has expertise in choosing the right accessories and gears for your baby. Being a mom she knows the problems new moms face. She would like to help with Parenting to new moms with her expertise in raising a child. Connect with me: 1. Twitter 2. LinkedIn