The domestic water heater may be either a tank-type or a tankless type, and use either gas or electricity as heat source.
Typical domestic tank-type water heaters range from 30 to 50 gallons and they require floor space to be installed. Tankless units are rated in gallons per minute (GPM) and range from 2 to 10 GPM. They can be wall mounted and located in reduced spaces.
You will find that gas water heaters are more expensive to buy than electric types even before considering the cost of gas ventilation and gas pipe requirements, but in most regions gas is the less costly heat source. Tankless heaters may cost more, but are considered lower cost to operate with their higher efficiency.
The cost to install average water heating depends upon type, heating flow and tank capacity, preparation and special needs, and the labor rate.
In the following table the Cost figure is based on replacing average water heating for a 3 to 5 person home; and includes old material removal and disposal, transport, new material and installation, equipment, and waste.
|Electric w/ tank||Lower first cost||Price of electricity||$639|
|No vent and pipe||Circuit availability|
|Gas w/ tank||Price of gas||Higher first cost||$826|
|Higher first cost||Vent and pipe|
|Electric tankless||No vent and pipe||Price of electricity||$1,057|
|Less space||Circuit availability|
|Gas tankless||Price of gas||Vent and pipe||$1,077|
Prices range from $639 (electric w/ 40 gallon tank, 4 person home) to $1,077(gas tankless, 6.4 GPM for 2 baths; plus vent and pipe) and also vary depending on your zipcode:
Local costs have been calculated by accounting for labor and material cost differences across different cities. To get accurate cost estimates, indicate yours: