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How Much Does a New Water Heater Cost?

If you have found yourself taking chilly showers in the morning and there never seems to be any hot water when you need it, then it might be time for a new water heater. However, like with replacing any appliance, you know that a new water heater is going to come at some expense, but how much?

Tank Versus Tankless Water Heaters Cost

The most important decision when choosing a water heater is whether you want a classic tank model or one of the newer tankless models. Each has its advantages as well as its disadvantages.

Tank Water Heaters:

  • Costs between $700 and $2000 depending on size and efficiency
  • Lasts 8 to 12 years
  • Installs in 2 to 3 hours

Tankless Water Heaters:

  • Costs between $1,000 and $3,000
  • Lasts 20+ years
  • Installs in 8 to 10 hours

Comparing the two, obviously going on price alone it is best to stick with a tank water heater model. Yet, you do have to weigh in that it will need replaced much sooner by comparison. Tankless models, though initially more expensive, do last for a very long time. Furthermore, you get added benefits like it being very compact, using energy much more efficiently, and let’s not discount the biggest benefit of having endless hot water for the home.

While you can expect to spend near $1,000 or more depending on which model you you choose, it is also important to take into considerations the benefits of the models as well. If you don’t so much care for those, but rather cost alone, it is best to stick with the tanked models.

Do you need your water heater replaced? We can help with that. Contact us today to see what Minnesota Heating & Air Conditioning can do to help you get the hot water back on again.