Rising Elevator Costs Stall U.S. Building Projects, Experts Say

Elevators move billions of miles each year, yet the United States lags behind Europe in per-capita availability, with only about 3.1 units per thousand people. A 2024 report from the Center for Building in North America finds that a new four-stop elevator in New York City costs roughly $158,000, compared with $36,000 in Switzerland, due largely to U.S. regulations that mandate larger cab sizes and to the International Union of Elevator Constructors’ control over labor costs.

The union, which pays its members over $51 per hour, restricts entry and resists out-of-state licensing and prefabricated elevator use. Stephen Jacob Smith argues that these cost drivers hinder affordable housing, reduce accessibility, and dampen economic productivity. He calls for regulatory reform and greater openness to factory-built elevators to restore the technology’s transformative impact on cities.