With proper installation and regular maintenance, residential asphalt driveways typically last 15-20 years, while concrete driveways last 20-30 years. Commercial parking lots generally last 12-15 years for asphalt and 20-25 years for concrete, depending on traffic volume. Factors that affect lifespan include installation quality, drainage, climate conditions, and maintenance practices. Regular sealcoating every 2-3 years can significantly extend the life of your asphalt surfaces.