Replacing a water heater nationally runs $1,586 to $3,859 installed, per Homewyse's May 2026 data: about $1,715 for a 40 gallon gas tank swap, up to $3,576 for gas tankless. Heat pump units run higher, $2,500 to $6,000 fitted, per ENERGY STAR, February 2024. Type drives the price more than brand.
Hot Water Brief is an independent cost-research site. We are not a contractor and do not perform the work ourselves.
Those figures are national averages, not a quote for your house. What they give you is a starting point that actually carries a source, which is rarer in this search than it should be. The table below lines up the main unit types side by side, each with its own published range and the midpoint of that range.
| Unit type | Installed range | Typical (midpoint) | Source and date |
|---|---|---|---|
| Standard tank, 40 gallon gas | $1,586 to $1,843 | about $1,715 | Homewyse, May 2026 |
| Standard tank, 50 gallon electric | $1,920 to $2,254 | about $2,087 | Homewyse, May 2026 |
| Tankless, gas | $3,293 to $3,859 | about $3,576 | Homewyse, May 2026 |
| Tankless, electric | $1,642 to $1,925 | about $1,784 | Homewyse, May 2026 |
| Heat pump or hybrid | $2,500 to $6,000 fitted | about $4,250 | ENERGY STAR, February 2, 2024 |
A full breakdown by fuel, capacity, conversion and labor, with every line sourced the same way, lives on the cost page. This page is the short version: the number, what moves it, and where to read next depending on what is actually going on with your water heater.













