How long does the average hot water heater last?

Tankless water heaters have easily replaceable parts and can last up to two decades when properly maintained. Storage tank heaters need to be replaced every 10 to 15 years.

In addition to the longer life span, tankless water heaters save homeowners money by heating water on an as-needed basis. These units are up to 34 percent more energy efficient than their storage tank counterparts. The tankless heaters are more expensive to purchase, but they are likely to save homeowners money in the long run and take up less space. This type of heater provides the most energy savings to those who have minimal hot water requirements.