How much does the average new water heater cost?

A water heater can cost anywhere from $230 to $5,000 depending on the model chosen. There are solar, tankless and electric water heaters that vary in price.

Most households require a 30 to 40 gallon water heater. A larger house may need a larger one. A water heater that is too large costs the household extra money. A tank style heater is the cheapest option at $230 to $2,000. Installation is not included in the price and costs more depending on the condition of the area the water heater is being hooked up. Solar water heaters cost about $5,000; however, this price usually includes the cost of installation.