Pricing for an asphalt driveway is based on a number of factors including the square footage of the driveway. The base cost for asphalt on a driveway is $3 to $5 per square foot, as of 2015.
Though an estimated price for an asphalt driveway is easily calculated, some homeowners find there are a number of extra expenses associated with an asphalt driveway. For instance, if this is a brand new asphalt driveway, a gravel base is needed. This costs anywhere from $1 to $2.50 per square foot on top of the base cost for the asphalt installation.
In addition to the base asphalt and gravel, another added price consideration is the topcoat. A basic topcoat adds anywhere from $1 to $2.50 per square foot of driveway, and a colored or stamped topcoat adds between $3 to $5 per square foot. Other additional costs include any decorative stamping or drains, which help keep water away from the driveway and yard. Having a soil sterilizer and latex sealer are also highly recommended, but these add to the final price of an asphalt driveway. When looking at the big picture, pricing out a reasonable price for an asphalt driveway ranges between $8 to $15 per square foot.