How Much Do Water Heaters Cost?
Water heaters range considerably in price, from the cheapest models at $150 to the most sophisticated at $6,000. The price will certainly factor into your decision when purchasing a new water heater. But the type of water heater you buy, along with size, efficiency standards, and other features are also considerations.
The most popular choice for home water heaters is the storage tank model. These are among the cheapest, ranging from $400 – $1,600 depending on the brand. Tank models are usually easier to install, so service fees will be lower as well. Tankless water heaters can also be inexpensive, with smaller models starting as low as $250. But the more high-end tankless water heaters can get up to $2,500. In most cases, tankless heaters are more difficult to install, so the installation fees will be higher.

Other common types of water heaters are hybrid/high efficiency and solar. Neither of these types is cheap. The hybrids range from $700 – $3,000 and the solar models from $1,000 – $6,000. Hybrid water heater installation fees are more or less the same as for a storage tank model, but the service charges are significantly higher for solar water heaters.
Because prices vary so much on water heater units, it’s imperative to know which kind you need before you buy. You can ask water heater technicians like At Your Service Water Heaters to evaluate your situation and make a recommendation. If you’re buying a new heater to replace your old one, you’ll likely have to purchase one with the same specs.
How to Get the Best Deals on Water Heaters
To save money on a water heater, you should do some research beforehand. Tankless models are generally more energy-efficient than storage tank water heaters, which could save you money on energy costs. However, tankless models are often more expensive and costlier to install, meaning that you won’t break even on the energy savings for several years.
Another consideration for saving money is the water heater’s fuel source. If your old water heater is electric, the cheapest option will be installing another electric one. Retrofitting your home for a gas heater in this instance would be expensive.
What Are the Best Water Heaters on a Budget
The best water heaters for your budget will depend on your home’s particular needs. If you’re a large family that often runs out of hot water, then you might have to choose between a large tank water heater or a tankless model. If you choose a storage tank model, you’ll pay less upfront but your water heater will only last up to 10 years. Tankless models last 20 years or more.
So if you’re on a budget, it’s important to set the initial costs against the energy efficiency savings. You don’t just have the choice between storage tank and tankless units, either. You must also consider gas, propane, or electric. This choice could be dependent on fuel costs in your area, where gas or propane might be cheaper than electricity.
The best way to get an affordable water heater is to ask a professional. If you’re hiring a licensed plumber to install your water heater – and we highly recommend that you do! – you should ask the plumber for their advice. They can take a look at your situation and tell what would be the most cost-effective option for you.