Pricing Parking by Demand: Assessing Price Adjustments in the SFpark Program

Abstract

In 2011, San Francisco adopted SFpark, the most innovative pricing program for parking since the invention of the parking meter. SFpark aims to vary the price of curb parking by location and time of day, with the goal of achieving a consistent block occupancy rate between 60 and 80 percent. This occupancy rate ensures that curb parking is both well used and readily available. This research found that the average price of a parking space fell 4 percent, and the price elasticity of demand was -0.4. 62 percent of blocks were in the target range of 60 to 80 percent occupancy after the program had been operating for two years.