Consumers can expect to pay between $3 and $12 per square foot of concrete driveway installed, as of July, 2010. It can cost anywhere between $1 and $6 per square foot to have an asphalt driveway installed. Both types of driveways are very durable.
To maintain their integrity throughout the years, both concrete and asphalt driveways need a seal coating applied to them. The initial seal coating applied to a concrete driveway is all that is required to seal the driveway for its expected lifetime. Asphalt driveways, on the other hand, require some reapplication of sealant every three years or so to maintain elasticity and prevent cracking.
A typical concrete driveway is rated to last for between 30 and 50 years. Asphalt driveways are only rated to last for around 20 years. However, both types of driveways can last for decades beyond their rated lives if they are properly maintained.