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INDIANAPOLIS — Parking meter hourly rates in select areas of the city will rise 25 cents next month — the first time there’s been an increase in Indy’s parking rates in 10 years.
The rise from $1.50 to $1.75 an hour goes into effect April 1 and will affect meters in Broad Ripple and in downtown Indianapolis along Massachusetts Avenue, according to a news release from ParkIndy.
Of the 4,211 metered parking spaces in Indianapolis, 1,931 of them are located in a zone ParkIndy calls the “downtown core area.” That means the metered spaces there make up about 45% of all across the entire city.
The rate adjustments are calculated based on the consumer price index in the Midwest Region and are implemented once the total value meets or exceeds 25 cents, according to ParkIndy.
Parking meters near downtown and in residential areas are not affected by the rate adjustment and will stay at $1 an hour.
There will also be no change to parking meters’ days and hours of operation. That will stay at 7 a.m. to 11 p.m. Monday through Saturday.
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