Even if you charge $10/hr, or whatever the market rate would be for street parking spots, you still need an enforcement mechanism to prevent people overstaying.

In general, the idea of a "market rate" for any given property depends fundamentally on a system of property rights actually being enforced.

Perhaps the overconsumption is on the businesses that have no parking infrastructure for their customers, relying on street parking instead. What if there was no street parking allowed at all? It’s probably too late to implement this idea, but interesting to think about.

Ah yes, the free market, which tends to always work in favor of the majority of people and common good.