Choosing the right materials and construction methods can make a huge difference in the final cost of a concrete parking lot. When it comes to asphalt or concrete, both materials have their advantages and disadvantages. Choosing the wrong material can be detrimental to the long-term health of your parking lot. For example, an asphalt parking lot may crack under extreme weight loads or frequent traffic. In contrast, a concrete one will not break or chip, so it will save you money in the long run.
The size of the parking lot will determine how much it costs. A parking area with 25,000 square feet can cost as little as $75,000 and be able to hold 200 vehicles. On average, the cost per square foot ranges from $3 to $6 per square foot. However, each job will have its own specifications and hiccups. The more complex your project is, the more it will cost.
The cost of a parking lot can vary considerably. The initial construction costs of concrete parking lots are much higher than those of asphalt parking lots, and the ongoing costs of maintenance are significantly higher. A concrete parking lot is also greener than asphalt. A concrete-based surface is less expensive than asphalt, which can require 80% of the original construction costs. Compared to asphalt, a concrete parking lot can be double or even triple the amount over the course of 20 years.