How Much Does an Asphalt Parking Lot Cost in 2025?
The average asphalt parking lot costs $75,000
Installing an asphalt parking lot costs between $10,000 and $150,000, with an average of $75,000.
Key factors such as location, lot size, and material choice impact overall project expenses.
Proper maintenance helps extend service life and ensures code compliance.
Professional installation delivers quality workmanship and peace of mind.
This article was updated using automation technology and thoroughly reviewed for accuracy by HomeAdvisor Editor Ryan Noonan.
On average, constructing an asphalt parking lot costs $75,000, which is between $2 and $4.50 per square foot. The average parking lot cost range is from $10,000 to $150,000, with total expenses ranging from $5,000 for small lots to $700,000 for larger ones. Factors such as location, size, and material choice significantly influence the final price.
Regular maintenance, including resurfacing every 15 to 20 years, ensures your parking lot remains durable and compliant with regulations. Hiring a professional not only guarantees quality workmanship but also provides peace of mind.
Asphalt Parking Lot Cost Factors
Several factors, including lot size, maintenance, and repairs, influence the total cost of installing an asphalt parking lot. Here’s a breakdown of the key cost factors that impact your project total.
Material Comparison
Asphalt is a great parking lot material thanks to its mid-range cost and durability, but several other materials are also available. This table compares common materials used in parking lots.
| Material | Average Cost Range | Lifespan (Years) |
|---|---|---|
| Asphalt | $2–$4.50 | 20–30 |
| Concrete | $4–$7 | 30–40 |
| Gravel | $1.25–$1.80 | Up to 10 |
| Tar and Chip | $1–$5 | N/A |
Asphalt
When building an asphalt parking lot, expect to pay $1 to $2.50 per square foot for materials and another $1.50 to $2 per square foot for labor. Asphalt pricing can shift with local market rates, which may nudge your project total up or down. Additional asphalt installation cost factors also include the depth of paving and shipping and/or freight fees if you don’t hire a local service.
Shop the local market and collect multiple bids from commercial paving companies near you. Comparing quotes is the easiest way to lock in value.
Concrete
Concrete parking lots cost between $4 and $7 per square foot, including materials and labor. This price includes the cost of delivering concrete, especially if you receive multiple contractor bids on your project. Concrete parking lots cost more than asphalt because they last longer, 30 to 40 years.
Early fall’s cooler weather creates ideal curing conditions, but high demand that season can push prices higher.
Gravel
Installing a new gravel parking lot costs between $1.25 and $1.80 per square foot. Gravel is more affordable upfront, but won't last as long—pros rate most gravel parking lots for up to 10 years. Gravel can shift in harsh weather, so if you’re in a storm-prone region, the lower upfront price may be offset by more frequent repairs.
Parking Lot Cost by Size
$400 to $1,130 per parking space is a good guideline to consider for each space you're building in a parking lot. One standard parking space is nine feet wide by 18 feet in length, or roughly 162 square feet. Consider that the additional space is slightly more than half of the total lot size.
Contractors calculate projects by square feet, not necessarily by the number of spaces you’ll need. Still, you can arrive at that number by factoring in one spot at 162 square feet and multiplying it by the number of spaces you think you’ll need.
| Number of Spots | Square Footage | Average Cost |
|---|---|---|
| 10 | 4,000 | $10,000 |
| 100 | 30,000 | $75,000 |
| 200 | 60,000 | $150,000+ |
Asphalt Repaving
Plan on repaving every 15 to 20 years to maintain the lot's appearance and ensure structural integrity. If the surface has deep gaps or cracks, a contractor will handle those repairs before laying the overlay, which raises the total cost.
DIY vs. Hiring a Parking Lot Paving Professional
Before you decide to tackle an asphalt parking lot installation job yourself, keep in mind that it’s physically demanding, time-intensive work that requires expertise and experience to do a high-quality job. In addition to paying for the materials, you’ll have to rent equipment as well.
Professional asphalt installers already have the necessary equipment and know how to use it safely. Hiring a pro saves time and ensures the lot is installed correctly the first time. For a high-quality and timely installation, consider hiring a local professional to ensure your project is handled expertly from start to finish.
How HomeAdvisor Gets Its Cost Data
No place is more important than your home, which is why HomeAdvisor connects homeowners with local pros to transform their houses into homes they love. To help homeowners prepare for their next project, HomeAdvisor provides readers with accurate cost data and follows strict editorial guidelines. We surveyed over 10,000 real customers about their project costs to develop the pricing data you see, so you can make the best decisions for you and your home. We pair this data with research from reputable sources, including the U.S. Bureau of Labor Statistics, academic journals, market studies, and interviews with industry experts—all to ensure our prices reflect real-world projects.
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