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The demand for hot water in modern homes keeps increasing every dawning day. If you want to install a new water heater tank or replace an aged one, you want to know the costs beforehand. So, how much does a water tank cost? The prices depend on various factors, but the average range spans from $1,000 to $3,000 for a water tank. Read this article before calling a plumber.

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Factors Affecting Costs of Water Heater Tanks

The amount you’ll pay to get a water heater installed will depend on the following factors:

Hot water tank type

Hot water tanks come in multiple designs and styles. Natural draft tanks are conventional models that trade at $1000 to $1600. These systems use natural air pressure to drive outgas, which then burns to heat the water. The old heating tank models are the cheapest options you can find in the market.

Power vent tanks, known as one-pipe systems, are safer and more advanced than natural draft systems. The systems push out gas through electrical fans. They are easy to relocate to new locations when the need arises. The cost of these tanks ranges from $1600 to $2500. Two-pipe systems, also known as power direct vent tanks, are more costly and cost roughly $1,600.

Hot water tank size

The amount you will pay for the hot water tank will depend on the size, too. The costs will go higher as the size increases. Larger tanks take more time and energy to raise the water temperature to cost you more. 

The average cost of a small-size 40-gallon tank range between $1200 and $1600, while 50-gallon tanks will cost between $1400 and $2000.

Fuel type

The hot water tank cost will also depend on the fuel type it uses. Go for electrical tanks if it’s the only fuel type available in your home. If you have a natural gas connection in your home, go for natural hot water tanks. 

When deciding the tank to buy, don’t forget to check the standard utility costs in your area. Natural gas is the cheapest source of fuel in most states and cities. However, natural gas heaters cost more upfront and cost way higher to install.

Electric heater tanks are cheaper to buy and install, safer, and more energy-efficient. However, electricity is quite costly, and the systems take longer to heat water. Natural gas heaters heat water fast and cost less to maintain. 

Brand 

The cost of your hot water tank will depend on the brand and manufacturer, too. Top-leading brands tend to price their products higher. Remember that while brand reputation is essential, many upcoming brands manufacture outstanding products. Base your search for a hot water tank brand on the product quality, efficiency, and warranty.

Tanks with high-efficiency ratings are more affordable to operate. Look for top brands that manufacture water tanks with solid enamel lining and coating for protection against corrosion.

The hot water tanks will cost you more upfront, but the long-term cost savings will be impressive. If you decide to settle for hot water tanks from less-known brands, confirm the reliability and efficiency of the tank from other customers.

Cost of installation work

Different hot want tanks have unique installation requirements. There are systems with unique designs that require more installation work. Old model hot water tanks will need to match the old installation codes, meaning you must rework your plumbing system.

Modern systems with more sophisticated designs and features are easier and cheaper to install. However, suppose you’re replacing an outdated hot water tank. In that case, the costs may depend more on the piping condition and an existing hot water tank type.

The HVAC repair specialist

The costs of getting your hot water tank installed will as well depend on the specialist you hire. You’re likely to pay lower if you hire a hot want tank installer that hasn’t been around for long.

However, you can’t bet on the quality of services you will get at the end of the day. If you hire a repair specialist with many years of experience, the price will likely be higher. However, considering they have a track record of doing an excellent job, the odds favor them.

The labor costs involved will as well affect the final cost of the hot water tank installation. HVAC specialists will charge you more for systems that take more installation time and effort.

Pros and cons of tankless water heaters.

How Much Does a Water Tank Cost? Reducing the Costs

As a homeowner or business operator, the last thing you want is to spend more while you have the option to cut the costs. When it comes to installing a hot water tank, these tricks will help you cut the costs.

  • Only hire qualified and licensed HVAC Repair Company. While industry-leading HVAC companies may charge you more upfront, they save you from costly mistakes. Unskilled specialists may wreck your systems. Wrong tank water system installations are expensive and can directly affect the useful life of the system.
  • Buy from trusted manufacturers. Buying from a less-known company can save you upfront costs but end up doubling the long-term operating costs. Buy your hot water tank system from a trusted manufacturer. Ensure the manufacturer is known for making energy-efficient and reliable systems.
  • Buy the right system size. Get a system that’s large enough to supply enough hot water in your business facility or home. Smaller units may cost lower than bigger units, but the costs will be higher if you have to buy several small tanks to meet your hot water demands. Evaluate your hot water demands and get a system that meets such needs.

How Much Does a Water Tank Cost – Conclusion

How much does a water tank cost? The cost of any hot water tank will depend chiefly on the aspects we mentioned above. If you settle for cheaper electricity-powered hot water tanks, be ready to spend more on utility bills. 

If you go for the costly gas systems, be prepared to enjoy reduced utility bills. Keep your specific hot water needs in mind when you’re buying any hot water tank.

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