How Much It Costs To Replace A Water Heater

Water heaters play an important role in every household. These units ensure – water runs hot throughout your home, allowing you to bathe, wash dishes, and do laundry with ease. Depending on the selection, the average cost for water heater installation is between $1,000 to $3,000.

Tank Water Heaters

Traditional water heaters feature a tank of water that is fueled by gas or electric power. They usually hold between 20 and 80 gallons of water for easy dispersion throughout a home. These units are a lower upfront investment than tankless water heaters but operation and maintenance costs are higher.

New Water Heater Tank and Installation Costs

Average Total: $1,500

water heater cost

Nationwide costs fall within the range of $1,300 to $2,000. This estimate includes the following components:

  • Basic tank water heater

  • Permits

  • Installation materials

  • Installation labor by a licensed and insured plumber

  • Removal of the old unit

Tankless Water Heaters

Tankless water heaters are also fueled by gas or electricity, but they do not store water within the unit. They are compact and heat water as needed, making them environmentally friendly.

The downside of a tankless water heater – they generally require a higher initial investment. But they are less costly to operate and provide additional benefits like endless hot water.

New Tankless Water Heater and Installation Costs

Average Total: $3,500

tankless water heater cost

Nationwide costs generally fall within the range of $1,200 to $5,000. Our overall estimate includes the following:

  • Tankless water heater

  • Permits

  • Installation materials

  • Installation labor by a licensed and insured plumber

  • Removal of the old unit

Cost To Run A Water Heater?

Water heater costs range from $150 to $700 per year. It makes up 14% to 20% of your total household energy use.

How Long Does It Take A 40-gallon Water Heater To Drain?

It takes about 20 to 30 minutes to completely drain a 40-gallon water heater.

How Long Does It Take For A Water Heater To Heat Up 50 Gallons?

A 50-gallon water heater can take anywhere from 1 to 2 hours for electricity or 30 to 60 minutes for gas to heat water to 120 degrees.

water heater replacement cost

Gas Water Heater Costs Vs. Electric Water Heater Pricing. Propane Versus Electric Water Heater Cost Calculator

All types use either gas (natural or propane) or electricity. On average, natural gas-fired units cost $100 to $200 more than electrical types. The internal heating comes from an electrical coil, much like a stove top coil, or through a gas pilot light.

Natural gas units cost more upfront and they’re less energy-efficiency, the high price of electricity in most parts of the country still makes gas the cheaper long-term choice. Are electric tankless water heater worth it? Electrical types, whether tank or tankless, make better choices for small apartments or confined areas since they don’t require make-up air or venting.

If you run a 2,500-watt heater for 8 hours a day, you can expect to use 20 kWh, per day. The same machine will take 0.068 gallons.

Using the data above, using a heater for 8 hours costs:

Electricity: $2.00

Propane: $1.60

Running Tankless Propane Water Heater

Propane is more cost-effective fuel in this scenario, and the cost gap between the two energy sources is growing with higher voltage appliances.

How Much Does It Cost To Replace A 50-gallon Water Heater?

New hot water heater installation costs range from as low as $550 to $10,000 or more, including the unit and labor. Most standard electric and gas water heater units cost $400 to $1,600.

Water Heater Costs by Gallon.

Tank Size (Gallons) Price Range*

50 $400 – $2,200

hot water heater cost

Cost to install a 40-gallon water heater

40 $320 – $1,600

How Much Does It Cost To Replace A Hot Water Heater With The Tankless

Tankless Water Heater Installation Costs

Item
Cost
1. Tankless Water Heater Unit
$450-$1,050
2. Installation Labor
$90-$1,200
3. Optional Gas Line Installation/Replacement
$500
Total Average Installation Cost
$540-$2,750

How Long Does It Take To Install A 40-gallon Hot Water Heater

Accessibility factors into the time required plus how long it takes to drain the existing heater. If it is all lined up with sediment, it can easily take 45 minutes. 3 hours on average might be close.

How Much Does A Plumber Charge To Install A Hot Water Heater

Plumbers charge $45-$65 per hour. In many cases, a plumber will install a water heater in a day (6-8 hours). You can expect to pay between $270 and $520. Water heaters that are difficult to access can take extra 2-3 hours to install.

Energy Efficiency And Money Saving

Installing a tankless water heater is a great upfront investment, but these units can cut the cost of monthly utilities. The U.S. Department of Energy estimates that in homes using 41 gallons or less of hot water, the tankless units can conserve between 24% to 34% more energy than tank water heaters.

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