How Much Does a Home Elevator Cost in 2025?
A home elevator costs $4,195 on average, but prices often range from $2,715 to $5,937. Get in touch with an elevator professional for an accurate quote based on your needs.
Factors influencing the cost include location, size, quality, number of floors, permits, inspections, and whether it's a retrofit.
Home elevators can increase property value by 10% to 20% and offer enhanced accessibility and convenience.
Pneumatic elevators are the most costly type, and outdoor elevators or vertical platform lifts tend to be the least costly.
This article was updated using automation technology and thoroughly reviewed for accuracy by HomeAdvisor Editor Ryan Noonan.
Installing a home elevator can greatly enhance the accessibility and convenience of your home, especially for multi-story properties. On average, homeowners spend $4,195 on this upgrade, but projects can range from as little as $700 to $12,000 or more. Factors like location, size, and quality influence the overall cost. Planning ahead can help you budget effectively for this valuable addition.
Average Home Elevator Cost
The elevator type, number of floors it serves, labor, permits, inspections, and materials all impact the cost.
Floors: $5,000 to $15,000 per added floor
Permits: $200 to $2,000
Inspections: $75 to $300 per year
Labor: $700 o $15,000
Home Elevator Cost Factors
Several factors influence the cost of installing a home elevator. These include the type of elevator, the number of floors it serves, the brand, and whether it's a retrofit. Understanding these elements can help you make informed decisions and budget accordingly.
Elevator Type
The type of elevator you choose significantly affects the overall cost. Each style offers unique features suited to different needs and home designs. Selecting the right elevator ensures it fits seamlessly into your home while meeting your accessibility requirements.
Here's what you can expect to spend on different types of home elevators:
| Elevator Type | Features | Cost Range |
|---|---|---|
| Vertical Platform Lift | Low-cost, basic lifting device capable of traveling up to 14 feet | $5,000–$20,000 |
| Pneumatic Elevator | Highest cost, using vacuum pressure to move glass cabins between floors | $35,000–$60,000 |
| Hydraulic Elevator | Hydraulic pump connects to a cylinder which raises and lowers a piston, moving the elevator cab | $25,000–$50,000 |
| Shaftless Elevator | Small, compact, and ideal for single-person use or in small spaces—can only travel one floor | $15,000–$25,000 |
| Cable-Driven Elevator | Uses a pulley system of steel ropes, a counterweight drum, and electric motor gearbox | $15,000–$35,000 |
| Geared Traction Elevator | Uses geared pulleys to operate, reducing energy usage but also slowing movement | $25,000–$38,000 |
| Gearless Traction Elevator | Uses a track and counterweight system—compact and ideal for retrofitting | $29,000–$55,000 |
| Outdoor Elevator | Affordable and made of durable materials to withstand the elements | $2,000–$10,000 |
Number of Floors
The number of floors your elevator serves directly impacts the cost. For each additional floor beyond the first, plan to add between $5,000 and $15,000 to your budget. For example, installing an elevator in a four-story home could increase your costs by $15,000 to $45,000.
If you need to install an elevator in a taller building, it eliminates certain, more inexpensive elevator types, such as shaftless elevators or vertical platform lifts. This limits your options when choosing an elevator type, potentially increasing project costs even more.
New Construction vs. Retrofit
Another important price driver is whether your elevator is being installed in new construction or as a home retrofit. It’s much less expensive to install an elevator in a new build since the design of the structure will be created with the elevator in mind. This makes it easy to build space for the various mechanisms your elevator will need, which also means you can pick any elevator type you want versus being forced into choosing one that fits your existing home.
If you retrofit your home with an elevator, you’ll need to clear space for the elevator pit and shaft (except when installing certain elevator types), reroute plumbing and electrical lines from the space, and reconfigure your heating and cooling systems. All of this means that retrofitting an elevator can cost as much as three times more than installing an elevator in a new home.
Permits and Inspections
As with most major home renovations and additions, you’ll need to secure building permits and get inspections of your home elevator to ensure it’s safe and up-to-date. In most areas, you’ll need to get annual inspections, which will be included in your annual maintenance contract costs. If you don’t have an annual maintenance contract, expect to pay between $75 and $300 per annual inspection.
You also need to get a building permit in order to install a home elevator. Elevator building permit costs vary by region and can cost anywhere from $200 to $2,000.
Labor and Maintenance Costs
Professional labor and regular maintenance play crucial roles in the total cost of your home elevator. Installation expenses vary based on factors like the elevator type, your home's size, and whether it's a retrofit or new construction. Investing in regular maintenance is essential to ensure the elevator's safety and longevity.
Installation Labor Costs
Installation labor is a significant component of the overall cost. Factors like your chosen elevator type, your home's size, whether it's a retrofit or new build, and any unique requirements can greatly influence labor expenses.
All in all, home elevator labor installation costs anywhere from $700 to $15,000, which is in addition to the cost of site preparation and the equipment itself. Here’s a breakdown of common elevator labor cost factors:
The following are some common elevator installation labor tasks and their average costs:
| Elevator Installation Labor Task | Average Cost |
|---|---|
| Site inspection | $70–$1,500 |
| Site preparation | $500–$15,000 |
| Framing and shaft construction | $200–$4,500 |
| Lift and wiring setup | $300–$6,000 |
| Door and sensor installation | $100–$2,000 |
| Testing and adjustments | $30–$1,000 |
Maintenance and Repair Costs
Regular elevator repair and maintenance are absolutely essential to ensure safety. On average, elevator repair costs between $75 and $100 per hour in addition to any equipment costs your local elevator repair service might charge.
Alternatively, you might consider signing an annual maintenance contract with the company that installed your elevator. This ensures you get the maintenance work you need on a regular basis, which tends to be less expensive. Most annual maintenance contracts for elevators cost between $200 and $350 per year.
Does Installing an Elevator Increase Home Value?
While installing a home elevator is a significant investment, it often increases your property's value. With proper maintenance and regular inspections, you can expect a return on investment (ROI) of around 50%, potentially adding 10% to 20% to your home's overall value. Keep in mind that factors like your neighborhood, home type, and elevator style can influence these figures.
Elevators provide two major selling points: luxury and accessibility. Not only do elevators add a flashy touch to any home, but they ensure the house is accessible to people with wheelchairs or those living with disabilities.
Budgeting for a Home Elevator
If you're looking to save on your home elevator without sacrificing safety or quality, consider these cost-saving strategies:
Choose simpler, less expensive types of elevators (such as vertical platform lifts or traditional cable-driven elevators) versus a more luxurious pneumatic model with a glass cab.
Limit the size of the elevator cab to what's needed—you'll pay far less for a 3-by-4-foot elevator designed to fit one person than a 5-by-7-foot cab that fits the whole family.
Avoid retrofitting when possible—it's much less expensive to install an elevator during a new build, so consider paying for it if you plan to live in a house for a very long time.
Consider limiting how many floors your elevator services—you may only need an elevator to go up to the second level versus all the way up to the third or fourth floors.
How HomeAdvisor Gets Its Cost Data
No place is more important than your home, which is why HomeAdvisor connects homeowners with local pros to transform their houses into homes they love. To help homeowners prepare for their next project, HomeAdvisor provides readers with accurate cost data and follows strict editorial guidelines. After a project is complete, we survey real customers about the costs to develop the pricing data you see, so you can make the best decisions for you and your home. We pair this data with research from reputable sources, including the U.S. Bureau of Labor Statistics, academic journals, market studies, and interviews with industry experts—all to ensure our prices reflect real-world projects.
Frequently Asked Questions
Yes, if accessibility is a priority, installing a home elevator is often a better choice than a stair lift. Elevators allow for the safe transport of people, items, and mobility equipment like walkers or wheelchairs between floors. While stair lifts are less expensive and easier to install, they don't accommodate mobility equipment, which can limit independence for those with reduced mobility.
Installing a home elevator takes between two and four weeks from the start of site preparation to the final inspection, depending on the complexity of your project and any specific modifications needed for your home. More complex installations that require significant structural adjustments can extend the timeline to several weeks or even months. Always consult with professional installers to get a detailed schedule tailored to your project requirements.
Regular maintenance is essential to ensure your elevator's safety and longevity. With proper care, your home elevator can remain operational for decades. Cable-driven models require cable replacement every five years to meet safety standards. Regular professional service and scheduled inspections address wear and tear, ensuring your elevator performs reliably over its lifespan.
Choosing an elevator type depends on your priorities. If you want to add a luxurious feature to your home, a glass, vacuum-powered, pneumatic elevator might be the right choice. If accessibility in a smaller home is a bigger concern, a simple vertical lift platform may be best. If you're retrofitting, a shaftless elevator or gearless traction elevator might be the best option.
Home elevators are safe when installed by licensed professionals who adhere to strict building codes and inspections. A comprehensive home inspection ensures that every component meets established safety standards. Incorporating additional safety overrides and advanced security devices further enhances operation, with some features costing an extra $2,500. These measures guarantee a reliable and secure system for your home.
Stair lifts cost between $2,000 and $20,000 and serve as an affordable alternative to home elevators, especially for individual mobility on stairs. However, stair lifts do not transport larger items or mobility equipment such as wheelchairs. Professional installation is required to ensure safe operation, and you should carefully assess your specific accessibility requirements before choosing between these options.
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