Shoup wrote a LOT about how charging too little for parking leads to everyone using it, which makes parking worse for everyone involved. San Francisco charges about $50c a day for residential street parking in areas that have a parking permit zone - which is decided on a block by block basis. Most street parking in SF is completely free.

Raise prices even slightly, and people's behaviors will adjust accordingly. I have a friend who street parked two cars until he moved to a different neighborhood and had to start paying for permits. Now he just keeps his commuter and leaves his overlander in the suburbs.