A treadmill having a motorized treadbase and a folding handrail fold is with respect to the treadbase such that the treadmill achieves a low profile when the handrail is in a folded position. The treadmill includes: (i) a treadbase, the treadbase comprising first and second rollers and an endless belt movably trained about the first and second rollers; (ii) a motor coupled to the treadbase, the motor also being movably coupled to the first roller such that the motor selectively turns the first roller, thereby causing the belt to move; and (iii) a handrail pivotally coupled to the treadbase, the handrail selectively folding with respect to the treadbase. In a preferred embodiment, the treadmill is less than about 8 inches in height when the handrail is in a folded position.