How Much Does a Home Elevator Cost

A home elevator brings ease into your life and boosts your home value. It helps you move furniture and other items from one floor to another. It also makes it possible for people with arthritis or other health problems to go to a different floor.

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So, do you want to install an elevator into your home? Then your main goal is to find out how much it costs, right? The average cost of the home elevator is $9,000 – $60,000. However, different factors are combined to calculate the elevator price. This article will fully guide you about them so you can easily know how much a home elevator costs, and make the right choice.

Cost of Different Types of Home Elevators

To estimate the home elevator cost, you need to know its types. There are different types of home elevators, like traction, hydraulic, winding drum, and vacuum.

Traction Home Elevator

The price of a traction home elevator ranges from $9,000 to $40,000.

80% of buildings use traction elevators than others. It works with steel ropes and belts, so it’s best for low-rise, mid-rise, high-rise, and ultra-high-rise buildings. It comes in different types to help you choose your desired one.

There are different types of traction elevators, and all are explained below:

Geared Traction Elevator
Geared traction elevator works with AC and DC electric motors. With gears between the electric motor and sheave, they drive the pulley, steel belts, and ropes.

Geared traction can carry around 13,000 kg weight and has a peak speed of 500 ft. However, this elevator type has multiple concerns, such as high noise, high energy consumption, and poor ride comfort.

Gearless Traction Elevator
A gearless traction elevator is operated with a synchronous motor and is designed simply. Due to its efficiency, 80% of people use gearless traction elevators. It’s considered best for mild to high-rise buildings since it has 2,000kg to 4,000kg reach.

Residential Elevator and a Home Elevator

Hydraulic Home Elevator

Normally, hydraulic home elevator price ranges between $20,000 and $30,000. The hydraulic elevator uses a pump and a jack that ascends it up and down. This elevator type needs a separate machine room.

Therefore, it requires a lot of space. Also, keeping the hydraulic elevator type maintained regularly is required.

So, you have to manage a long-term budget in case you want to install this elevator type in your home. However, a hydraulic elevator is an energy-saving option since it consumes electricity only ascending, not descending.

Vacuum Home Elevator

Vacuum home elevator price starts from $28,000. This elevator type operates with self-supporting air pressure, pumps, and turbines.

In case you’re looking for a space-saving elevator, a vacuum elevator is what you need. It also requires low maintenance costs and power consumption. However, it’s not affordable and isn’t good for enclosed shaftways.

Vacuum (Air-Driven) Home Elevators

Winding Drum Elevators

These elevators use an electric motor that winds a cable on a drum, raising or lowering the elevator. Winding drum elevators require a machine room, pit, and hoistway. These are at the hoistway’s top or bottom.
They have an average weight capacity, and modern models require minimal space. However, they don’t offer a smooth ride compared to the hydraulic elevators. Modern winding drum elevators provide a smoother ride than the older models. In addition, these elevators require regular maintenance and replacement of the cables approximately every five years.

Machine Room-Less (MRL) Traction Elevator

MRL traction elevator is a space-saving choice since it doesn’t include the machine. Its speed is similar to a gearless elevator and it is simple to install.

It also proves a budget-friendly option since it requires less investment. However, the MRL traction elevator causes noise since it doesn’t have a battery room.

if you’re looking to buy a high-quality home elevator, Dazen Elevator will be a great choice. We provide elevators for both homes indoors and outdoors.

Since we provide full-fledged elevator services, including manufacturing, installation, and maintenance, you can call us for any type of elevator job and bring ease into your life.

Other Home Elevator Cost Factors

A home elevator proves a game-changer. It helps you easily carry items to different floors and assist people with mobility issues. However, a home elevator price is calculated following the different factors:

Size & Capacity
The elevator size directly impacts the project cost. The bigger the elevator is, the higher the cost is in terms of material and labor. Normally, a 10 to 15-square-foot elevator is considered an affordable choice.

Here’s the estimated cost of the elevator based on its size:

Size Capacity Average Cost 
1 Person 350 lbs.$10,000 – $15,000
2 Person 500 lbs. $15,000 – $20,000
3 Person 900 lbs. $25,000 – $30,000
4 Person 1,100 lbs.$35,000 – $40,000
5 Person 1,250 lbs. $45,000 – $50,000
6 Person1,400 lbs. $55,000 – $60,000

Number of Floors
The more floors you have to install the elevator, the more it costs. Each floor is approximately costs $5,000 to $15,000. So, how many floors you decide to install the elevator is up to you. A home with two stories costs proves affordable.


Labor is a big part of how much a lift costs. Prices range from $500 to $1500. So, putting an elevator in your old home will cost more than putting one in your new home.

Installation & Construction
If you install an elevator in a new home, it’ll prove economical. However, installing an elevator into an existing home isn’t budget-friendly. To install an elevator into an old house, you may need to hire an architect, build a wall, repair carpentry framing, install a ceiling, replace an electrical panel, and hire a structural engineer.

glass home elevator

Ways to Save Money When Installing a Home Elevator

You want to install a home elevator, but you don’t have much money. If your answer is a strong “Yes,” all you have to do to save money is look at the tips below and follow them:

Install a Smaller Eevator: The bigger the size of your elevator is, the more it will be costly. An elevator 3 feet wide by 4 feet deep proves more affordable than other elevators. Also, a two-floor elevator is more economical than an elevator with several floors.

Install Elevator into a New Home: If you’re installing an elevator into an existing home, it’ll cost more than putting an elevator into a new home. So always ensure to situate the elevator while constructing your home.

Rely upon a High Qualified Team: Always hire a professional service with good reviews. So it’ll get the task done within a limited timeline, saving labor and time.

As one of China’s leading elevator suppliers, Dazheng Elevator is renowned for its competitive pricing and innovative solutions. We are here to meet your elevator requirements, please do not hesitate to reach out to us.

Home Elevator

Residential Elevator FAQs

What is the best type of elevator for a home?
Traction and hydraulic elevators are considered the best type for a home.

What is the price of the smallest elevator?
The elevator price is based on which model and specifications you choose. Normally, the smallest elevator has a price range of $9,000.

Which variety of elevators is ideal for residential use?
Traction and hydraulic elevators are commonly recommended for homes.

What is the minimum capacity of an elevator for two people?
An elevator with a door width of at least 36” and cab depth of a51” and 68” side door width and 80” centered door width is recommended for two people.

What is the least expensive residential elevator price?
Normally, the most affordable residential price ranges from $10,000 to $15,000, depending on features.

Can an elevator be put in an already-built house?
Yes, elevators can installed in an existing home with the proper modification.

Where Can I Purchase an Affordable Home Elevator?

Different elevator manufacturers offer different prices for different types of home elevators. However, Chinese manufacturers offer an industrial chain advantage and affordable prices.

One notable player in this industry is Dazen Elevator. We’re a reputable Chinese manufacturer renowned for our modern elevator solutions that come with distinct prices and advantages. So, what’s set us apart:
● Competitive Pricing
● Quality assurance
● Modern elevator solutions
● Exceptional customer service
● Customization


For calculating the exact home elevator cost, multiple factors are considered — from labor, elevator size, and type to number of floors and elevator features. And all the variables are explained above with the average cost calculation to help you make the right decision.

If you want to install an elevator for your home, Dazen Elevator is the best choice for you. Contact us now!

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dazen founder
David Lv

Hey, I am David - founder of Dazen Elevator. We are a full solution provider of elevators and escalators in China. Reach me at info@dazenelevator.com to get a free quote for your project.

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