Comparing Hot Water Heater Prices to Find a Good Value

While a hot water heater certainly is not the most expensive purchase you will make for your home, you do want to do some research to make sure you are getting a good value. The heater prices vary according to brand, model, capacity, and type of heater. Because there is such a wide range of types of hot water heaters, the price range you can expect to pay varies widely as well. Depending on the type and model you choose, you might expect to pay anywhere from $100 to $3,500 for a new hot water heater.

If you are looking to purchase a traditional tank style water heater, you can expect to pay between $100 and $600 if you choose an electric. Gas hot water heater prices are slightly higher, and you should expect to pay between $250 and $1,000 for a comparable electric hot water heater. However, many people prefer a gas hot water heater, because natural gas prices often make these more economical to operate than electric. Price varies depending on the size of the water heater. 50 gallon water heaters can be sufficient but a family will often need a 75 gallon water heater to meet their needs and of course it will be a little pricier since it is larger.

There are also tankless hot water heaters on the market. These types of water heaters work on demand, and vary greatly in size between small models that fit underneath a sink, to large models that can heat five gallons of water every minute. Tankless hot water heater prices are generally higher than traditional tank models, and can range anywhere from around $200 to $1,200 per unit.

However, there is more to take into consideration with hot water heater prices than just the price of the unit itself. As a general rule you will find that the lower the hot water heater price is, the less energy efficient it is, and the more it will ultimately cost you to operate in the end. Therefore, although a higher quality hot water heater will cost more to buy, your monthly expenses to run it will be lower, saving you money over time.

Whichever type of hot water heater you choose, unless you plan to install it yourself, you are going to have to factor in installation costs. Depending on the size and type of set up you have in your home, you can expect to pay somewhere around $200 to $400 if you have a professional installs a traditional tank hot water heater. The tankless ones will vary in installation price, depending on what needs to be done as far as supply lines or venting is concerned. You can expect to pay anywhere from around $300 to $700 if you are installing a tankless hot water heater. Clearly, hot water heaters are not an option for renters due to the installation which is usually not allowed in a rental unit. An efficient alternative is halogen heaters which use energy efficient halogen bulbs which keeps your energy bill down.