We built a PVC bike rack to house our bikes. It came out outstanding and was super inexpensive to make. I believe it cost us about 30 dollars to make 2 bike racks that hold 3 and 4 bikes respectively. We followed the instructable here: http://www.instructables.com/id/Bike-Rack/
I modified it a bit to include spots for more than one bike. If you want our modifications, let me know and I will write them out!
Updated June 09:
Don't be a cheapskate like me. Spend $5 on some PVC glue and glue your bike rack pieces together. If you try to save the dollars and just fit the pieces together, you will have a cute little pile of PVC pipe sticks with in 2 or 3 weeks.
Parts cut out!
Adan putting joints together
One finished bike rack
Front yard before nifty bike rack. Note bikes thrown haphazardly around yard, just begging to be stolen.
Bike rack placed behind fence set a few feet out from the front of the house.
Bikes in rack! Beautifully put away!
Bike rack for adult bikes in the shed.
Bike rack in shed filled with adult bikes! Beautiful!