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The average cost to build a pergola ranges from $2,200 to $6,400, whereas the average cost of an awning ranges from $1,400 to $4,400, meaning that an awning tends to be less expensive to build or install than a pergola. Ultimately, the less expensive option depends on a few factors, including size, quality of materials used, and location.

A retractable awning won’t necessarily increase your home’s value very much, but it can offer a boost of aesthetic appeal to potential buyers. In the long-term, however, a well-placed awning will save you money on cooling and protect your deck and outdoor furniture from sun exposure during the hot summer season.

It depends on how you’ll use it. Both awnings and pergolas create shelter in outdoor areas, but pergolas have grid-style roofs, which are more open than awnings and not as effective at blocking out UV rays and precipitation. Also, pergolas are permanent structures, so you can’t put them away when you aren’t using them (unlike retractable awnings).

Awnings offer a variety of materials to choose from, each of which has its own benefits. Cotton is a lower-cost option that’s also more eco-friendly because it’s made from natural materials, while acrylic-coated polyester and vinyl offer better durability against harsh weather. Fiberglass and metal are also resilient to weather, although metal can be vulnerable to corrosion without protective sealant. Ultimately, you’ll need to consider your climate and your budget in deciding the best material for your awning.