Tank vs tankless pricing, warning signs, and when repair stops making sense.
Updated April 2026
All costs include parts and standard labor unless noted otherwise. Ranges reflect national averages — your area may be higher or lower.
| Type | Typical installed range | Expected lifespan |
|---|---|---|
| Tank water heater (gas or electric) | $800 – $2,500 | 10–12 years |
| Tankless water heater (gas or electric) | $1,500 – $4,000 | 18–20 years |
| Repair | Typical installed range |
|---|---|
| Thermostat replacement | $75 – $250 |
| Anode rod replacement | $150 – $300 |
| T&P relief valve | $100 – $250 |
| Water heater flush | $80 – $200 |
Rusty water from the hot tap only (not cold) means the tank is corroding internally. Rumbling or popping sounds indicate heavy sediment buildup. A puddle at the base means the tank itself is leaking — not a fitting. Water takes noticeably longer to heat. The unit is over 10 years old.
Newer tank water heaters are 10-15% more efficient than units from 10+ years ago. Tankless units save $100-$150 per year because they only heat on demand. Check for utility rebates — many offer $200-$500 for high-efficiency units.
Use the free Repair vs Replace calculator — 19 systems with 5-year cost projection →Based on national trade data and contractor experience. Updated April 2026. All ranges are for planning purposes only — not a quote or guarantee. Actual costs vary by region, scope, access, materials, and contractor.