Costs Of Replacing Your Driveway

If you’re looking to increase the value of your home, whether you are just doing upgrades or looking to sell, replacing your driveway is one of the best ways to do that. A new driveway that looks as great as it functions can add an average of $7,000 in value to your home, in some cases even more. So just how much does that type of investment cost?

At a glance

The typical price for an asphalt driveway is $4 to $6 per square foot. A concrete driveway costs typically $8 to $12 per square foot. Asphalt is ultimately the best option in terms of being able to better hide wear and tear (i.e. oil stains, and gasoline damage) and durability in extreme climates. This results in a reduction in the need to clean asphalt and maintain it, which increases the lifespan (and aesthetic value) of your driveway. 

We Recommend Asphalt For MN & WI Homes

As leading local experts in asphalt or blacktop driveway installation, our crew highly recommends asphalt to homeowners throughout St. Paul and Western Wisconsin as asphalt is more durable in colder climates. We provide free cost estimates for homeowners throughout the area – get in touch to schedule yours today!

New Driveway Installation Costs

Installing a new driveway is an expensive renovation project when you factor in the cost of labor and materials; however, you can look at it as an investment into your home that returns a value especially if you’re interested in selling your home. What does that investment entail?

Labor and material costs will vary depending on your location. The U.S average for asphalt driveway installation is around $7 – $15 per square foot – this includes materials and labor – or $2,000 to $12,000. Driveway material costs in Wisconsin and Minnesota fair lower compared to the U.S average:

• WI: $3-8 per sq ft (Asphalt) vs. $8-15 per sq ft (Concrete)
• MN: $4-8 per sq ft (Asphalt) vs. $9-16 per sq ft (Concrete)

Asphalt materials are also around 45-50% cheaper than concrete – something to consider when you’re choosing between an asphalt and a concrete driveway.

These costs are just averages, most homeowners will see fluctuations depending on a variety of other factors including:

• Project scope
• Size of driveway
• Complexity of driveway shape
• Driveway & property location

Driveway Replacement Costs & Factors

Replacing an existing driveway typically costs less depending on the severity of damages and whether a contractor will need to take out existing materials ( if you want to replace your concrete driveway with asphalt, that may cost more). The average cost is typically $8 – $15 per square foot, and accounts for:

• Existing material removal
• New material costs
• Labor costs

When replacing your existing driveway, you’ll want to consider additional factors outside of upfront cost like:

• Complete replacement (if your driveway needs it) ensures your investment lasts upwards of 30 years
• Replacing your existing concrete driveway with asphalt could provide more stability in colder climates like Minnesota or Wisconsin
• The curb appeal of a new driveway can increase your home’s market value and help it stand out from other homes on the market.