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We also have 1GB 'net and today during the update I was getting around 60MB/sec. Other days other downloads it's been 90MB/sec. Still other days/times/games it's been 35MB/sec. Or it starts kinda middling but bounces up and down constantly. blahblah :)
I used to get that all the time around 60 MB .. But haven't seen anything like that in over 8 months, maybe longer. .... The other day - I had one it only hit 9 MB DL and that really sucks with today's speeds.
I remember having issues with downloads a long time ago (we're talking a few years) that was fixed sort of by using another nearby region. Even switching regions could sometimes jog something in Steam.
Also, you definitely didn't touch your download settings, right? I'm on a 500 Gbps fiber connection (theoretical of course) and I actually throttled Steam to 300 Gbps because otherwise I'd hog the connection and affect streams in the house. :)
Downloads at a crawl speed speeds up to fairly okay.
Like some said dl location also affects speeds and it might be the dl location you are using is getting lots of traffic.
Gigabit network (1Gb/s) equals roughly 115MB/s in real life (1000/8 minus some overhead). Most modern 3.5" hard drives can write that fast easily. But yeah, all gamers should be on SSDs anyway :) Most likely this looks like a network bottleneck somewhere between OP's location and the datacenter serving Steam files.
Everytime I clear cache Steam will kick it Back to Wash DC since I'm on the east coast.
Who is your provider?
Maybe Steam's download servers still have DSL and Cable Internet systems in mind. DSL (Digital Subscriber Line), I believe, has a maximum speed of 1 Megabit per second; and Cable maxes out at around 300 Megabits per second. I do believe that, to this day, even American city-dwellers have mostly DSL or Cable Internet.
I don't think that's going to solve your problem. I just switched to the "US - Washington, DC" server and I get about the same as I do with Charlotte.