Residential Elevator Cost

How much does a residential elevator cost? In general, the fixture of a cab and hoistway can run from $15,000 to $100,000. Several factors go into the overall cost of purchasing and installing a residential elevator. In addition to the cost of the fixture, installation, construction, additional features, and a permit may be part of the total cost of a residential elevator.

Installation may cost nearly as much as the elevator itself, but prices vary with the type being installed and the amount of construction needed. One of the least expensive models, a pneumatic elevator needs minimal installation and little to no construction. The hoistway and car are installed directly into your home and simply need a flat surface. Pneumatic elevators, however, only hold one to two people and do not make a home or building wheelchair accessible. 

One of the safest designs, a hydraulic elevator requires more installation, which may cost $20,000 to $30,000. Your home needs a pit, a machine room, and an interior or exterior hoistway for a hydraulic elevator, and in preparation, you may need to contact an architect to draw up plans. 

An elevator system may be sufficient on its own, but additional features – practical or aesthetic – may need to be added. On a practical level, an elevator should have a phone for emergencies, and installing one is an additional $50 to $200. Adding certain doors or hand rails also raise the price. 

Aside from the interior changes to a car, the full design of the elevator system influences the cost. A smaller residential elevator that only goes up two floors costs less than a larger model that goes up four floors. 

Customized elevators have become a luxury item, as not only is a residential elevator added but it also can match the interior of a home or building. A custom elevator may be designed with finished wood paneling, metal, or stone – or have an old-fashioned birdcage shape – and the materials used and planning time all go to the cost of a custom residential elevator.

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