A very high parking occupancy can negatively influence the traffic performance of an area by causing very long cruising times. A very low parking occupancy, on the other hand, is inefficient from a space utilization perspective. Thus, this paper proposes a framework to compute the optimal parking occupancy rate over a given time horizon based on a macroscopic traffic and parking model. This rate is set high enough to ensure an efficient usage of the parking infrastructure. However, it should also guarantee a high likelihood of finding parking in order to eliminate the drivers’ time wasted in cruising for parking and the added congestion it causes. The model outputs are based on small data collection efforts and low computational costs, and they can be generated without complex simulation software using a simple numerical solver. Multiple vehicle types are included into our methodology allowing us to generate insights about the optimal parking occupancy with or without differentiated parking (i.e., parking for specific vehicles, such as fuel and electric vehicles). In times of a modal shift towards electric vehicles, cities can use our model to evaluate how much parking supply (with battery charging opportunities) they would like to dedicate to electric vehicles in order to achieve optimal traffic and parking results, and whether a differentiated or semi-differentiated parking policy is desirable. We illustrate our framework in a case study of a central area within the city of Zurich, Switzerland, showing the traffic and parking impacts (e.g., average searching time for parking, total revenue created by parking fees, optimal parking occupancy rate) for different proportions of fuel and electric vehicles in the parking demand and/or supply. Our results confirm that optimal occupancy rates are between and for most realistic scenarios. We then discuss how these rates might change depending on various demand and supply relationships, and according to different parking policies. We show that equal proportions between electric vehicles in the demand and their parking spaces in the supply lead to the best traffic performance in the area. We also provide the tools for cities to analyze their loss in performance if they do not react, e.g., to an increasing demand for electric vehicles over time. Moreover, we illustrate how some of these risks can be mitigated by having more flexible parking policies, e.g., allowing electric vehicles to use parking spaces for fuel vehicles.