Skip to content
Need a Renovation Cost Estimate?

How Much Does a Home Elevator Cost?

Get your renovation costs using Renotag's renovation cost calculator:

Home elevators are a significant investment that can enhance both the functionality and value of your home. Let’s delve into the costs, types, and factors to consider when planning for a residential elevator.

Key Takeaways
Average Cost: $30,000 to $60,000 for a two-story elevator, with $10,000 to $15,000 for each additional floor.
Types: Costs vary by type, with traditional hoistway, shaftless, and glass elevators.
Drive Systems: Options include hydraulic, winding drum, geared and gearless traction, and pneumatic systems.
Comparison: Elevators vs. stair lifts; the latter being cheaper and easier to install.
Considerations: Installation time, structural modifications, value addition to property, and maintenance needs are essential factors to evaluate.

$30,000 – $60,000 Average Cost Installed (Two-Story Elevator)

The installation cost of a basic two-story home elevator ranges from $30,000 to $60,000. Factors such as the type of elevator and the drive system used can significantly impact the overall cost.

+$10,000 – $15,000 For Each Additional Floor

Adding additional floors to your home elevator can increase the cost by $10,000 to $15,000 per floor. This scalability must be considered in your overall budget, particularly if your home has multiple stories.

Home Elevator Cost

The cost of home elevators can vary widely based on several factors, including the type of elevator, drive system, and any necessary structural modifications.

Average Home Elevator Cost

Cost FactorAmount
National Average Cost$48,000
Minimum Cost$20,000
Maximum Cost$100,000
Average Range$30,000 to $60,000*

Home Elevator Cost By Type

Different types of home elevators come with varying price tags. Here’s a breakdown:

Elevator TypeAverage Installed Cost
Traditional / Hoistway$40,000 – $60,000
Shaftless / Through-The-Floor$30,000 – $50,000
Glass$50,000 – $100,000+

Traditional Elevator

Traditional elevators, also known as hoistway elevators, typically cost between $40,000 to $60,000. These require a shaft to be built into the home, which can increase installation times and costs.

Shaftless / Through-The-Floor Elevator

Shaftless or through-the-floor elevators are generally more affordable, with costs ranging from $30,000 to $50,000. These elevators require less structural modification and are a good option for existing homes.

Glass Elevator

Glass elevators offer a modern and visually appealing option, but they come with a higher price tag of $50,000 to $100,000 or more. These elevators can significantly enhance the aesthetic of your home.

Elevator Drive Systems

The cost of home elevators also varies by the type of drive system used.

Elevator Drive SystemAverage Cost
Hydraulic$30,000 – $60,000
Winding Drum / Cable-Driven$28,000 – $50,000
Geared Counterweight Traction$30,000 – $60,000
Gearless Counterweight Traction$50,000 – $75,000
Pneumatic / Vacuum$50,000 – $100,000

Residential Elevator Cost Factors

Several factors influence the total cost of installing a residential elevator.

Inspections & Maintenance

Regular inspections and maintenance are crucial elements that impact the long-term costs of a home elevator. Maintenance plans generally cost between $150 to $300 annually, depending on the complexity of the system.

Home Elevator vs. Stair Lift

When considering mobility solutions, you might weigh the costs and benefits of a home elevator versus a stair lift.

FactorHome ElevatorStair Lift
Average Installed Cost$30,000 – $60,000$2,000 – $15,000
Installation Timeframe4 days to 5 weeks2 to 8 hours
Pros– More attractive than a stair lift– Cheaper
– Can bring mobility devices– Installation in less than a day
– Can transport multiple people– Requires less maintenance
Cons– Expensive– Less attractive
– Requires structural modifications– Institutional look
– Lengthy installation– Might need multiple devices
– Takes up space
– Can’t be removed

Home Elevator FAQs

Does an Elevator Add Value to a Home?

Yes, adding an elevator can increase the value of your home, especially if it enhances accessibility and convenience.

Are Home Elevators Worth It?

This depends on your needs. For those with mobility issues or multi-story homes, elevators can provide significant benefits. However, the cost and structural changes are notable considerations.

What Are the Dimensions of a Residential Elevator?

Here are common sizes and capacities for home elevators:

SizeDimensionsWeight Capacity (Pounds)Space For:
Small32″ x 32″750One person or wheelchair
Medium38″ x 45″750One wheelchair plus one person
Medium-large36″ x 60″1,000Up to three people
Large45″ x 54″1,000Up to four people
Extra-large60″ x 60″1,500Up to four people

Who Installs Home Elevators?

Home elevators should be installed by certified professionals with experience in residential projects. It’s imperative to hire a reputable company to ensure safety and compliance.

How Long Does It Take to Install a Home Elevator?

The installation timeframe can vary from 4 days to 5 weeks, depending on the complexity of the project and the type of elevator chosen.

Getting Estimates From Home Elevator Installers

It’s crucial to get multiple estimates to understand your options and costs better.

Questions to Ask Home Elevator Companies

  • What types of elevators do you offer?
  • Can you provide references from previous clients?
  • What warranties do you offer?
  • Do you handle all necessary permits and inspections?
  • Can you outline the maintenance requirements and costs?

By thoroughly considering these factors and obtaining detailed estimates, you can make an informed decision about installing a home elevator. This investment can significantly enhance the quality of life for you and your family, providing ease of mobility and adding value to your home.

Renotag's renovation cost calculator being used by a person to price their home renovation costs.
social proofs renotag
5K+ homeowners trust Renotag

Your renovation cost is waiting

The world's first renovation cost calculator.

Table of Contents

Calculate your reno price

Add your project details, choose your finishes, and get a price for your project – no contractor needed until construction time.