The price of paving a surface with this common material is typically calculated by the square foot. Understanding this pricing model is essential for accurate budgeting, whether for a small driveway repair or a large parking lot installation. For example, knowing the price per square foot allows one to multiply that figure by the total area to estimate the overall project expense.
Accurately estimating paving expenses is crucial for effective project management. This allows for informed decision-making, from material selection to contractor negotiation. Historically, asphalt has been a popular choice due to its durability and relatively low cost compared to other paving materials. This cost-effectiveness has contributed to its widespread use in everything from roads and highways to private driveways and walkways.