How Much Does an Asphalt Parking Lot Cost in 2025?
An asphalt parking lot costs an average of $75,000
An asphalt parking lot costs an average of $75,000, with most projects ranging between $10,000 and $150,000.
Building an asphalt parking lot costs between $2 and $4.50 per square foot, depending on materials and labor.
Factors affecting cost include lot size, the number of spaces, labor costs, and additional features.
A professionally built parking lot ensures compliance with ADA regulations and local building codes.
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 like location, size, and material choice play a big role in determining 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
Many factors, including lot size, maintenance, and repairs, determine the final price 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 parking lot materials.
| 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 |
Asphalt
When building an asphalt parking lot, expect to pay about $1 to $2.50 per square foot for materials and another $1.50 to $2 per square foot for labor. Asphalt itself is always subject to change due to local market prices, so this could impact the price. 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.
You can potentially save money by shopping the local market and receiving multiple bids from local commercial paving companies. Comparing quotes helps ensure you get the best value for your investment.
Concrete
Concrete parking lots cost between $4 and $7 per square foot, including materials and labor. This price typically includes the cost to deliver concrete, especially if you get multiple contractor bids on your project. Concrete parking lots cost more than asphalt because they last longer, 30 to 40 years.
Early fall is the best time to pour concrete due to cooler weather, but due to demand, it could cost more.
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 is also susceptible to extreme weather, so if you live in an area with inclement weather, the lower cost might not be worth the cost of future repairs.
Parking Lot Cost by Size
$400 to $1,130 per parking space is a good guideline to consider for each individual 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. Be sure to consider that the additional space is actually 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.
Below are some average parking lot costs based on the number of spots needed and square footage.
| Number of Spots | Square Footage | Average Cost |
|---|---|---|
| 10 | 4,000 | $10,000 |
| 100 | 30,000 | $75,000 |
| 200 | 60,000 | 150,000+ |
Asphalt Repaving
Most asphalt parking lots need repaving every 15 to 20 years to maintain their integrity and appearance. Repaving involves adding about two inches of overlay onto the existing surface, refreshing the look and addressing minor imperfections.
If your lot has significant damage, like gaps or cracks, additional repairs may be necessary before applying the overlay, which can increase the overall cost. Investing in proper repaving ensures a safe and durable surface for years to come.
Resurfacing
Resurfacing or seal coating an asphalt parking lot costs between $0.15 and $0.30 per square foot. It's cheaper than a new installation and can extend the concrete's life beyond its initial 20 to 30 years.
Adding bonding agents to the concrete overlay, which makes the surface more durable and improves its aesthetic, could increase the cost per square foot that you might pay.
Repairs
Asphalt parking lot repairs cost between $1,000 and $3,600, depending on the extent of damage. Problems can range from small potholes to more significant repairs. You can repair small cracks yourself if you buy a bag of asphalt solution, but multiple cracks will require professional resurfacing or repaving.
Parking Lot Add-Ons
Additional features or add-ons to your new parking lot could drive up costs. Some items, like light installations, may be necessary for a commercial parking lot build. Some extra features that you can install include:
Parking bumpers
Paint striping
Lighting
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. Working with a professional will save you a great deal of time and will ensure that your parking lot is expertly installed.
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. After a project is complete, we survey real customers about the 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.
Frequently Asked Questions
Asphalt parking lots last 20 years when maintained without neglect. Regular maintenance includes repaving every 15 years and resealing every three to five years, while prompt repairs of emerging cracks secure the surface. Diligent upkeep preserves structural integrity and safety through scheduled inspections and timely restorations, ensuring the lot remains fully operational over its entire lifespan.
Installing a parking lot takes between two and four weeks, depending on factors like size and weather conditions. The process includes ordering materials, site preparation, paving and curing time, and adding finish touches like paint striping. Keep in mind that larger projects or unexpected weather delays can extend this timeline. Working with local professionals and suppliers can help keep the project on schedule and potentially reduce costs.
Maintaining a parking lot means performing scheduled work based on the material type. Asphalt surfaces require resealing, resurfacing, and prompt pothole repairs, whereas concrete areas need routine inspections, cleaning, and scheduled patching. Regular overlay applications further protect the surface, and a continual maintenance plan ensures excellent performance and safety over the lot’s lifespan.
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