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How Much Does An Elevator Cost?

Typical Range: $2,554 - $5,756

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December 30, 2020

Approved by Cati O'Keefe, Expert Home Building & Sustainability Contributor.

Written by HomeAdvisor.

Home Elevator Cost

Installing a home elevator costs $2,000 to $60,000, or $30,000 on average. You’ll pay $1,000 to $40,000 for the equipment and $1,000 to $20,000 for installation. Price depends mostly on the type. An outdoor lift runs $2,000 to $10,000, while a pneumatic vacuum style ranges from $35,000 to $60,000.

Residents of multi-level homes can benefit from installing an elevator or lift, especially if you’re a wheelchair users or those planning to age in place. This project increases the total value of the property and makes it more accessible.

Average Residential Elevator Pricing

Average Cost$30,000
High Cost$60,000
Low Cost$2,000

Residential Elevator Cost

A residential elevator costs $2,000 to $60,000. This includes $1,000 to $40,000 for the cabin and equipment and $1,000 to $20,000 for installation.

Home Elevator Kit and Installation Costs
Elevator Kit$1,000-$40,000
Installation$1,000-$20,000
Total$2,000-$60,000

Residential Elevator Cost Per Floor

If you want an elevator that moves more than one story, you should add $5,000 to $15,000 per floor. Most residential options assume an 84” maximum cab height and no more than four floors. Some styles, like vertical platform lifts or shaftless models, only travel two floors.

Elevator Costs Per Floor
2-story$2,000 - $60,000
3-story$7,000 - $75,000
4-story$12,000 - $90,000
Reach Out to Local Elevator Pros for a Quote

Home Elevator Pricing by Type

With a range of $2,000 to $60,000, home elevator pricing varies significantly by type. The cheapest options usually have extra limits on installation and may not be large enough for wheelchairs.

Home Elevator Costs by Type
Pneumatic$35,000 - $60,000
Vertical Platform Lift$5,000 - $20,000
Hydraulic$30,000 - $50,000
Outdoor Lift$2,000 - $10,000
Shaftless$15,000 - $25,000
the average cost to install a home elevator is $30,000 or between $2,000 and $60,000

Pneumatic Vacuum Elevator Cost

A residential glass elevator costs $35,000 to $60,000. Pneumatic styles use vacuum pressure to move the cab from one floor to the next. These are like the tubes and canisters you might see in a drive-through at the bank.

The cabs of pneumatic elevators are glass, which lends a modern look to the home and provides a view as passengers ride up or down between floors. They cannot be concealed easily within walls and are meant to be visible.

Vertical Platform Lift Cost

Cargo lift prices range from $5,000 to $20,000. This type doesn’t need a shaft, so it takes less money and time to install than other options. It’s popular among wheelchair users and homeowners who want mobility assistance without as much expense.

A motorized system moves the platform, not unlike a forklift. Most homeowners prefer this style when they only need to clear a few stairs, like they would for a split-level home.

Hydraulic Elevator Cost

Hydraulic elevators cost $30,000 to $50,000. These units use a hydraulic arm that physically lifts and lowers the cab.

It is relatively quiet compared to the cable models in larger apartment buildings. Most cabins are 15 square feet, large enough for multiple passengers or wheelchair users.

Outdoor Elevator Lift Cost

An outdoor elevator lift costs $2,000 to $10,000. This type operates like a vertical lift, but it’s designed for an outdoor installation.

Shaftless Elevator Cost

A shaftless elevator costs $15,000 to $25,000. It’s ideal for single-person use in small spaces and can only travel up to one floor. If you’re updating an existing home, its small footprint is least likely to disrupt your floorplan. Installation requires drilling through your ceiling or attaching the unit to your home’s exterior.

Talk to Local Elevator Installers

Home Elevator Brands

Many companies specialize in building elevators and lifts for homeowners. These brands range widely in price, so you’ll need to call to get a quote:

  • Easy Climber
  • Stiltz
  • Otis
  • Lifestyle Home Lifts
  • LULA (Limited Use/Limited Application)
  • Telecab
  • Pneumatic Vacuum Elevator (PVE)
  • Inclinator

Elevator Installation Cost

Elevator installation costs $1,000 to $20,000, depending mostly on the type. The price you pay relates to the difficulty of the project. If you need to carve out 25 to 40 square feet on each floor and build a separate shaft, you’ll spend more than if you’re simply installing equipment on the side of a staircase.

Installation Cost Breakdown

Installing the elevator includes $500 to $15,000 to get the area ready for the cabin, and $500 to $5,000 for labor. Remember that lifts usually require a lot less work, so those prices are lower.

Elevator Installation Cost Breakdown
Site Preparation$500 - $15,000
Labor$500 - $5,000
Optional Additional Door$3,000 - $5,000

Financing

With prices up to $60,000, you may need to get financing for this project. Before you apply for a home equity loan or put it on a credit card, look for local and state grants for accessibility upgrades.

If you’re installing an elevator to address a medical need, you may be able to deduct its cost on your federal taxes. Keep in mind that medical expense deductions only apply to improvements that don’t increase your home’s value. Talk to your accountant before you proceed with the installation.

New Construction vs. Retrofit

Most elevator installation prices assume that you’re building in new construction. If you’re adding one to your existing home, you may need these services:

Elevator Replacement Cost

Replacing an elevator costs $3,000 to $65,000 if you’re putting in a new cabin of the same type. If you want to switch from a shaftless style or a vertical lift to a pneumatic or hydraulic option, you may need to add $5,000 to $10,000 more.

"When you choose to add an elevator to a house, consider what could happen if you decide to sell your house. A prospective buyer may not want an elevator, so if possible, outfit the elevator with a door and trim that is similar to the other doors in your house to help it blend in."Cati O'Keefe, Expert Home Building & Sustainability Contributor.

Commercial Elevator Cost

Commercial elevators cost $20,000 to $150,000 depending on size and type. An escalator could run up to $200,000.

Commercial Elevator Costs by Type
Freight$75,000 - $150,000
Church$20,000 - $50,000
Traction$50,000 - $80,000
Escalator$100,000 - $200,000

Freight Elevator Cost

A freight elevator costs $75,000 to $150,000. Unlike most residential options, this type may use cables to move. This requires an additional machine room on the ground floor for the system that controls the cables.

Church Elevator Cost

Installing a church elevator costs $20,000 to $50,000. This type is usually hydraulic, with a small cabin about 10 to 15 square feet. It’s popular for installation in older buildings like churches.

Traction Elevator Cost

Traction elevators cost $50,000 to $80,000, but each floor adds to the price. It moves around 500 feet per minute, compared to 150 feet per minute for a hydraulic one. That makes it ideal for high-rise buildings.

Escalator Cost

Installing an escalator costs $100,000 to $200,000, depending on size and whether you have to retrofit. Although small systems might technically fit in a house, their footprint is usually too large. In most cases, you'd be better off with an elevator inside a home.

Chair Lift Costs

The cost to install a chair lift ranges from $2,000 to $15,000. This project is an affordable alternative, primarily for people who struggle to manage stairs.

DIY Home Elevator Kits vs. Hire a Pro

Since installing an elevator is extremely complicated and requires an expert to confirm it will be safe, it’s not appropriate to DIY. A professional can ensure that all aspects of the project meet accessibility standards and your expectations. When you’re ready to find home elevator installers near you, be sure to:

  • Ask for experience working on accessible projects, including references.
  • Request an in-person consultation.
  • Get at least three quotes before you choose a pro.

FAQs

What is the smallest residential elevator?

The smallest residential elevator is a shaftless type. Meant to work in the tightest spaces, it’s usually only large enough for one person to stand. It can only travel up to one floor.

How long does it take to install an elevator?

Installing an elevator takes 2 to 4 weeks for most types. Simple lifts may take 1 to 2 days.

Still Have Questions About Elevator Installation?
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