If you are living in an apartment and need to get your bike up out of the way when not in use or if you keep the families bikes in the garage and want a cheap way to get them on the wall and out of your floor space check out this tutorial for making a wall hanging rack for you bike out of wood from a pallet.
Mr. Chutney walks you through building the rack and getting it on the wall. He does two different styles depending on the weight of the bike. Very nice tutorial and a super way to get more floor space while keeping your bikes safe. Done by Mr. Chutney, check it out on Instructables. You might also like Motorized Bicycle – How To Build just in case you want to hang a faster bike on your wall.
Click here to see the instructions>>> http://www.instructables.com/id/Very-Cheap-Bike-Wall-Mount/?ALLSTEPS