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This study contributes to the literature by exploring the individual role and combination strategies of conventional pipe system and low impact development (LID) measures under different optimization schemes considering their physical and economic feasibility. Hydrodynamics of urban runoff are simulated using the one-dimensional Storm Water Management Model. A genetic algorithm-based multiobjective optimization technique is employed to derive the optimal trade-off between physical performance and implementation costs under changing conditions. The results show that from a hydrological point of view, the dominant solution for flood mitigation is the pipe system due to its high efficiency in handling local overloading problems. However, if additional benefits of LID measures are taken into account, the optimal combination strategy shifts towards a higher share of LIDs. The relations revealed help to improve the planning and investment of alternative flood mitigation measures in an integrated system.