With a level, smooth surface you also have tons of other flooring options, based on your decorative scheme and your budget. A relatively inexpensive and easy option is carpet, with a carpet pad beneath it for added comfort and to keep your feet warmer in winter. Peel and stick vinyl tiles are another option, and they come in various styles, colors, and price ranges for any budget.
Estimate the overall cost to install drywall in the basement at approximately $1.50 per square foot. The basic drywall panel measures 8-feet tall and 4-feet wide and is available in thicknesses that range from 1/4" to 5/8". This standard panel usually costs between $10 and $20. Price will vary depending on the brand, panel's thickness, and if it has any special features like mold resistance which may be beneficial for a basement space. Other material costs when adding drywall include the hardware to secure it to the framing, joint tape, and drywall mud.