The cost of replacing a roof ranges from $4,000 for simple asphalt shingles to $150,000 for high-end slate, The Miami Herald reports. It's more expensive to replace a roof with a steep slope because the work is more dangerous.
Wood can also be an affordable option, while metal can cost twice as much as asphalt. The life of the roof varies with the price, with asphalt lasting 20 to 30 years, while the more-expensive options last 50 years or more.
Homewyse notes that, as of Jan. 2014, the cost to install a shingle roof is approximately $5.43 to $7.05 per square foot, including materials and labor. Homeowners should shop around for a contractor and only work with those who are properly licensed. Cost estimates typically don't include the services of a general contractor to supervise the project.