The cost to pave a parking lot is $75,000 on average, but it can cost between $10,000 and $150,000 or more depending on the number of spots you want to have.
A parking lot is an essential part of a growing business to ensure customers have a comfortable and convenient visit. Or, if you live in a rural area and want to build a private road, driveway, or pave a large parking area, using asphalt or concrete can be a great option to ensure your drive is smooth and durable. If you’re planning to pave your own parking lot, we have the cost guide to help you budget.
Paved parking lots typically cost between $2.50 and $7 per square foot and are usually made of either asphalt or concrete. Asphalt is the less expensive option at $2 to $4.50 per square foot, while concrete is $4 to $7 per square foot. Gravel is also an affordable option at $1.25 to $1.80 per square foot, though then the parking lot is not paved.
The average parking spot requires 300 to 350 square feet per car, plus some open area for walking space, so keep this in mind as you plan what size you need.
The size you can afford for your parking lot will vary significantly depending on your budget. Here are some common budget ranges and what you can get for each.
For this amount, you can probably get a 10-car parking lot paved, measuring around 4,000 square feet. By choosing asphalt, you can likely make your lot a bit bigger than if you choose concrete for the same amount of money.
This budget will get you a much larger parking lot at closer to 30,000 square feet, which will fit around 100 cars.
At the absolute high end, you can afford a huge 60,000 square foot parking lot for 200 cars. This is a size more commonly used for commercial buildings like shopping stores and office spaces.
If the parking lot you’re building is large, it could be very time-intensive and physically exhausting work to do it yourself. The cost of labor to hire a professional parking lot paver near you is between $1.50 to $2 per square foot, and they already have all the equipment needed to do the job. There are several tasks involved in this project besides the paving itself that require both time and experience, including:
Paving
Sealcoating
Paint striping
Installing parking spot bumpers
Installing lights
The cost to repair an asphalt driveway or parking lot is between $1,000 and $3,600 total and generally requires professional help for large potholes and significant repairs. Small cracks could be repaired yourself for around $20 to $50 for a bag of asphalt solution.
The size and type of parking lot you choose make the most difference in price. Some materials are more affordable than others, but they have drawbacks. For example, while gravel is the least expensive parking lot material, it is also less durable and lasts less long than paved options like asphalt or concrete. As you plan your project, take these two factors into consideration.
How many cars do you need to fit in your parking lot? Answering this question will give you an idea of how large you need to build it. A parking space requires a minimum of 300 square feet to fit one car, with more space needed for accessible spaces, walkways, entrances, and exits.
There are four common materials used for parking lots, but asphalt and concrete are the two often used for paved parking lots in particular. Below is a cost breakdown for each material:
Asphalt: $2–$4 per square foot
Concrete: $4–$7 per square foot
Gravel: $1.25–$1.80 per square foot
Tar and chip: $1–$5 per square foot
Maintaining a parking lot is a lifetime commitment! Maintenance costs are split between routine cleaning and asphalt repairs. Costs for basic sweeping based on lot size might look like this:
1,000 spaces: $200
500 spaces: $150
200 spaces: $95
100 spaces: $85
25 paces: $75
While the cost per square foot for sweeping is low, ongoing sweeping costs can add up. High-traffic lots may need to be swept as frequently as once a week. That's why signing up for a subscription or monthly plan with a sweeping company can save a parking lot owner money.
In addition to routine cleaning, parking lots also need to be routinely updated with patching or resurfacing. Cracks, potholes, or dips can all create liabilities for lot owners. On average, asphalt parking lot cost for resurfacing ranges from $2 to $7 per square foot. Asphalt parking lots generally need resurfacing once every 20 years. However, lot owners in cold, high-snowfall climates may need to pay for resurfacing sooner because plows scraping against asphalt can cause it to age faster. The cost to reseal an asphalt parking lot can range from $0.15 to $0.30 per square foot. In a moderate climate, a lot owner can expect to need to reseal asphalt roughly once every two to four years. In comparison, concrete parking lots generally need to be resealed once every three to five years for a cost that ranges from $3 to $5 per square foot. Concrete requires resurfacing every 15 to 20 years.
Lines between parking spaces may also need to be repainted every few years. Sun exposure, traffic, and other factors can all affect how long white paint lasts. The cost to get this done can range from $500 for a 50-space lot to $1,200 for a 500-space lot.
Choosing a reputable parking lot contractor is important for protecting your own reputation. As a publicly accessible space, your parking lot must be safe and properly maintained. One of the most important tips for hiring an asphalt paving contractor is to choose a locally respected company with an understanding of how the local climate affects asphalt performance. These questions can help you find the right pro:
Is your company licensed and insured?
Can your company obtain all of the permits required?
Is there a warranty on your work?
Do you offer maintenance and cleaning packages?
Is there a minimum or maximum lot size you can handle?
What kind of paving and surfacing materials do you offer?
Can your company also help with designing drainage solutions for my parking lot?
Can I see examples of your work?
Do you have customer referrals or testimonials available?
What is the average life span of the parking lots you've built?
Leah Lopez Cardenas contributed to this piece.
To maintain their strength, asphalt driveways and parking lots need to be sealcoated once every two to five years. You may also need to reapply paint striping every few years as it fades to ensure drivers can safely navigate the parking lot.
Sealcoating asphalt costs $0.14 to $0.25 per square foot. Doing so prevents erosion in harsh weather and keeps your asphalt from cracking or getting potholes. It’s typically a good idea to hire a professional sealcoating company with positive reviews to do this work rather than do it yourself.
