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If your driveway is cracked, you can repave it with a process called asphalt overlay. Overlay is more cost-effective than a full replacement but is better suited for minor cracks and issues. If you have major cracks or other problems like water pooling, asphalt overlay isn’t your best bet. Plus, paving over a cracked driveway only extends the lifetime by about 10 years, whereas replacing it would start the clock over completely to give you up to 30 years.

The average cost of 1,500 square feet of asphalt ranges from about $10,500 to $22,500, depending on location, thickness, base material, and how accessible the job site is to crews and equipment. Keep in mind that your asphalt material cost may vary depending on its type, ranging from porous asphalt to heated blacktop. Standard asphalt costs $7 to $13 per square foot.

While blacktop is a type of asphalt, the terms should not be used interchangeably, as not all asphalt qualifies as blacktop. The primary differences are in their composition, production process, and ideal applications. Blacktop contains more stone than other types of asphalt and is heated to a higher temperature during production—300°F or more—while hot-mix asphalt is heated to between 275°F and 300°F. The ratio of bitumen (a tar-like crude oil) is a key differentiator, though sources vary: some state blacktop has less bitumen, making it less durable, while others claim it has a higher ratio. Due to these differences, asphalt is generally more durable and better for high-traffic areas like highways and streets, while blacktop is more suitable for playgrounds and residential driveways. For a driveway project, it is best to consult a professional to determine the most appropriate material.

To maintain their strength, asphalt driveways and parking lots need to be sealcoated once every two to five years. You may also need to reapply paint striping every few years as it fades to ensure drivers can safely navigate the parking lot.