Systems, methods, apparatus, and computer program products are provided for assigning parameters to a geographic area, wherein the parameters may be used to associate a speed limit with the geographic area. For example, in one embodiment, a geofenced area that (a) corresponds to a geographic area and (b) comprises one or more street segments is identified. Additionally, speed data associated with one of more of the street segments is received. After receiving the speed data, a speed limit is (a) determined for one or more of the street segments and (b) associated with the geofenced area.