True Cost Guide Disability Accommodation Install an Elevator

How Much Does a Home Elevator Cost in 2025?

Typical Range:

$2,723 - $5,934

Cost data is based on actual project costs as reported by 488 HomeAdvisor members. Embed this data

How We Get This Data

Homeowners use HomeAdvisor to find pros for home projects.

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When their projects are done, they fill out a short cost survey.

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We compile the data and report costs back to you.

Updated November 13, 2024

Written by HomeAdvisor.

Highlights

Home elevators usually cost between $2,723 and $5,934, with the average national cost sitting around $4,190.
Cost factors for a home elevator include the type of elevator you choose, the number of floors it services, the brand, the amount of repairs and maintenance it needs, whether it’s part of a new build or a retrofit, and permit and inspection costs.
There are various types of elevators, from expensive, luxurious pneumatic elevators with glass cabs to simple, inexpensive vertical lift platforms that connect two floors.
Labor is a major cost factor for home elevator installation, adding anywhere from $700 to $15,000 to your total costs, depending on the specifics of the project.
Home elevators offer an ROI of around 50% and add between 10% and 20% to your home’s value on average.
You can reduce the cost of a home elevator by opting for a simpler design, limiting the number of floors it services, reducing the size of the cab, and installing it during home construction or major renovation rather than retrofitting it.

Whether you’re aiming to make your home more accessible or simply want the luxury of making those grocery trips a little easier, an elevator is an invaluable addition to your home. Installing a home elevator costs an average of $4,190, with most projects costing somewhere between $2,723 and $5,934.

A few factors will impact the final cost of a home elevator, including how many floors it will reach, whether or not the elevator is a retrofit, and whether you choose a simple, utilitarian design or something more luxurious. Let’s dive in.

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National Average	$4,190
Typical Range	$2,723 - $5,934
Low End - High End	$700 - $12,000

Cost data is based on actual project costs as reported by 488 HomeAdvisor members.

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Home Elevator Cost Factors

Several cost factors will drive the price of your elevator, such as the type you choose, the number of floors it will reach, the brand you buy, and more. Here’s what you need to know.

Elevator Type

One of the main home elevator cost factors to consider is the type you choose. Different types of elevators have their own unique features, so make sure you choose the right one for your home and your needs.

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 more floors your elevator needs to connect to, the more you can expect to pay. On average, each extra floor you build for adds between $5,000 and $15,000 to your overall costs. To install an elevator in a home with four levels, for instance, you’d be paying anywhere from $20,000 to $60,000 more.

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.

Elevator Brand

The brand of elevator you choose can have a big impact on cost as well. Certain brands only make certain kinds of elevators as well (for instance, PVE only makes high-cost pneumatic vacuum elevators), meaning the brand you pick could greatly increase your overall project costs.

Elevator Brand	Average Cost (Installed)
Crystal by RAM Elevators + Lifts	$30,000–$40,000
Stratus by RAM Elevators + Lifts	$32,000–$40,000
Easy Climber	$12,000–$16,000
Inclinator	$25,000–$35,000
Otis	$40,000–$50,000
Pneumatic Elevator by PVE	$35,000–$60,000
Savaria	$28,000–$36,000
Stiltz Homelifts	$20,000–$25,000

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.

Elevator Maintenance & Repairs

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.

Permits & 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 a minimum of $75 per inspection.

You also almost certainly 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

Labor is another major price driver for home elevator installations. The price of labor for this project can vary drastically depending on the type of elevator you choose, the size of the home it will be servicing, whether it’s a retrofit or a new build, and any other special considerations that will need to be made for your specific home.

All-in, 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:

Elevator Installation Labor Task	Average Cost
Site Inspection	$70–$1,500
Site Preparation	$500–$15,000
Framing & Shaft Construction	$200–$4,500
Lift & Wiring Setup	$300–$6,000
Door & Sensor Installation	$100–$2,000
Testing & Adjustments	$30–$1,000

Does Installing an Elevator Increase Home Value?

Home elevators are a big expense, but the good news is they tend to increase your home’s value. Assuming it’s properly maintained and kept up to inspection, your home elevator should provide an ROI of around 50% and add between 10% and 20% to your home’s overall value. These numbers might shift depending on the neighborhood you live in, the type of home you’ve installed the elevator in, and the type of elevator you chose.

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

There are a few ways you can reduce the cost of a home elevator, saving money on this project without compromising on safety and durability:

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.

Still Have Questions About Home Elevator Installation?

Frequently Asked Questions

Should I install an elevator or stair lift?

If accessibility is a priority in your home, you’ll want to find a way to make upper floors easy to get to for those with limited mobility. Elevators are great for transporting people, items, and mobility equipment such as walkers or wheelchairs between floors. Stair lifts (also called chair lifts) are easier and less expensive to install but don’t allow the transport of mobility equipment, making it harder for people with limited mobility to live independently.

How long does it take to install a home elevator?

For most elevators, you can expect the installation process to take two to four weeks from site preparation to final inspection. If you’re installing a simple vertical lift platform, however, this could be much faster—perhaps just a few days.

How long do home elevators last?

Proper, regular maintenance is essential for extending the useful lifespan of your home elevator. Assuming it’s taken care of, you can expect your home elevator to last for decades. The exception is for cable-driven elevators—the cables usually need to be replaced every five years for safety reasons.

What’s the best kind of home elevator?

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.