Parking meter, 1951 (Image: Seattle Municipal Archives)
As far as market dynamics go, street parking around Capitol Hill’s E Pike and E Pine is a seller’s exchange where supply can never meet demand. Evening meter rates in the neighborhood’s nightlife core have now reached $6 an hour.
The milestone comes as Seattle City Hall makes it “regular seasonal adjustments” to paid parking rates across the city. Pike/Pine’s night rates were already the highest in the city but were part of a small bunch of neighborhood changes around the city where rates were bumped up 50 cents an hour.
All areas of Capitol Hill were increased by $0.50 for the nighttime rates. Big swaths of the neighborhood also saw 50 cent increases in daytime rates but demand didn’t warrant morning or afternoon changes in Pike/Pine, the city says.
15th Ave E, the most recent large area of the Hill to be converted to on-street paid parking, saw 50 cent increases in each segment of the day in the July update.
The changes follow careful increases that began in spring 2023 as the city finally showed signs of economic recovery from the pandemic.
SDOT typically makes additional adjustments in summer and again heading into winter.
The rates being charged since have climbed beyond pre-pandemic levels. For example, headed into the first major pulses of COVID, Pike/Pine had an evening parking rate of $4 per hour.
Despite investments in public transit and the growth of Capitol Hill Station, demand has continued nearly unabated by the higher rates. Major changes to street configurations and additions of elements like street patios, bike lanes, and delivery and rideshare zones have also reduced the number of available spots. Meanwhile, the city has also extended paid parking hours on the highest demand Capitol Hill streets.
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