In November, the San Diego metropolitan area’s home price increased 4.45% annually, said the S&P Case-Shiller Indices report released Tuesday. The highest gains in the 20-city index were in the New York metro area, at 7.32%, and Chicago, at 6.21%.

The city manages 3,811 paid parking meters representing 5,332 spaces, 4,449 of which charge $1.25 an hour. Those would increase to $2.50 an hour

Starting next month, San Diegans will need to shell out a little more per hour to park in spaces with a city-operated meter. On Monday, the San Diego City Council voted 8-1 to approve a hike to the rate charged at parking meters in the city as a means to help close the projected $260 million budget deficit heading into the next fiscal year.

San Diego purchased the two parcels for $431,500 and will preserve them in their natural state in perpetuity as open space.

Following a City Council vote, the cost to use a parking meter in the city of San Diego is doubling from $1.25 to $2.50 an hour.

The price to park at thousands of metered spots across San Diego will soon double — an effort to help the city avoid budget cuts to cherished amenities as it faces projected deficits of nearly $1.5 billion over the next five years.

Street parking is about to get much more expensive in San Diego. Why it matters: The City Council raised parking rates Tuesday to help close a projected $260 billion budget deficit in the upcoming fiscal year.