The use of vibrated concrete (VC) and self–compacting concrete (SCC) with adequate strength, cost-effectiveness, and sustainability is required to meet the current requirements in the concrete industry. Therefore, the development of an economical and durable concrete while comparing the life cycle cost of the structures, which includes the initial cost of the material, labor, and the cost of maintenance and repair, is of prime importance. The prevailing cost of materials and labor from the local market was collected to calculate the total cost of the concrete mixes. Both vibrated concrete and self–compacting concrete mixes containing conventional materials as well as locally and regionally available materials were developed, and a decision matrix was used for the cost-benefit analysis. The cost analysis of different mixes showed the economic benefit of self–compacting concrete compared to vibrated concrete, and further confirmed the added advantage of incorporating volcanic ash (VA) and recycled coarse aggregates (RCA) for the economic development of concrete mixes.