A synthetic rope for an elevator having improved resistance to compression and abrasion is provided and comprises a plurality of strands forming layers of the rope, each strand formed from a plurality of pre-twisted strands made from high modulus synthetic filaments. One or more of the strands or layers of strands may be impregnated with a lubricant, such as polytetrafluoroethylene, to reduce the abrasion among the strands and substrands, and increase the service life of the rope. The exterior of the rope may be covered by a jacket that provides for traction with the drive sheave. An elevator system comprising the claimed rope is also provided.