It depends. Expended energy/m is higher but space usage is much lower. For walking you arguably don’t even need a paved path while (non-sport) cycling needs a somewhat even surface and places to store and lock the bike. It’s not nearly as bad as with cars but even with cycling, space usage can become an issue in very densely populated areas; the Dutch don’t build massive bike garages because it’s cool (okay, maybe also a little of that) but because it’s a necessity.

If it’s near enough to walk, it’s usually better to just walk.