In 2026, the cost of a residential elevator starts at $30,000- $40,000 USD including the installation services done by your local dealer. The cost increases depending on the type of elevator you choose as well as the number of stops you need and how you choose to finish it. A two-stop “shaftless elevator,” also known as a through-floor lift such as the Savaria Luma lift, is an entry-level price and has simple site preparation steps to keep costs down. When you select a traditional home elevator with automatic operation that can serve more stops, you will need a constructed hoistway and that will increase the cost.
How Much Does a Home Elevator Cost in 2026?
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Cost by elevator type
Here’s some guidelines for the cost of a traditional home elevator and a shaftless elevator.
| Elevator type | Typical installed cost |
|---|---|
| Shaftless / through-floor lift (e.g. Savaria Luma), 2 stops | $30,000 – $40,000 |
| Traditional home elevator with hoistway, 2–3 stops | $45,000 – $75,000 |
| 3-5 stops, luxury finishes, custom upgrades | $75,000+ |
What affects the price?
Several factors change the final number:
- Number of stops — each additional landing adds equipment and labor
- New build vs. retrofit — adding an elevator to an existing house usually costs more than planning one into new construction
- Hoistway and site work — framing, electrical, doors, and finishes can add significant cost beyond the elevator itself
- Cab finishes and door style — standard interiors cost less than custom or upgrade options
- Local labor and permits — rates and requirements vary by market
- Remote locations – if your home is located far from the dealer, travel costs may apply
For more details on configurations and what drives pricing, see our Ultimate Guide to Home Elevators.
Elevator vs. stair lift vs. wheelchair lift
A home elevator costs more than a stair lift or wheelchair lift, but it serves the whole household and more floors. If you only need to access 2 levels, and can transfer to a seat, a stair lift is usually the lowest cost option. Something to consider is what you expect your future needs to be. For example, if you are struggling with stairs, but see a time when you need a mobility device such as a wheelchair, you may want to consider a wheelchair lift or home elevator now in preparation to stay in your home as you age. Compare options in our Ultimate Guide to Home Accessibility.
Common questions
What is the cheapest home elevator?
A two-stop shaftless / through-floor lift, typically starting around $30,000–$40,000 installed.
Can I add an elevator to an existing house?
Yes. Shaftless lifts need less construction; traditional elevators need a hoistway and more site work.
Does Medicare pay for home elevators?
Usually no. Some grants, veterans’ programs, or tax deductions may apply depending on your situation. Your local dealer is usually well-versed in programs that may apply to your situation.
Get a quote for your home
Published ranges are a starting point. Your local Savaria dealer can provide a quotation based on your site, outline any construction required, and recommend the right model of elevator or lift for your home.
