The Cost Of A Hot Water Tank

Cost of Hot Water Tank

What Is The Cost Of A Hot Water Tank

The cost of a hot water tank varies.  The average cost range is from $1200 to $2500.  Before you jump into a replacement, make sure you need one.

How To Know If You Need To Replace Your Hot Water Tank

There are common signs that will let you know if you need to replace your hot water tank.

  • Your current warranty has expired
  • Leaks have appeared near the top of your tank
  • A decrease in the water quality
  • The temperature of the hot water has dropped
  • Your tank has started making rumbling noises or banging noises
  • The water capacity is no longer sufficient for your needs

If you notice any of these it is time to replace your Hot Water Tank.   Considerations to consider include.

  • How large do I need to purchase?
  • Should I do electric or natural gas?
  • How hard is the installation?
  • Should I hire a plumber?

All of these considerations will affect your final cost of the project.

Hot Water Tank Questions

What Size?

You may not know this, but hot water tanks have sizes.  Just like that coffee you grab on the way to work, you have to decide how much hot water you want to have available.  The most common sizes are forty, fifty and sixty US gallon models.

Normally the size is determined by the number of people in the home and how much water is used.  See chart below.

How Much Is A Hot Water Tank

To get a more accurate measurement of your needs, figure out your peak water usage.

To figure out your peak usage:

  • Determine the time of day with the largest water usage
  • Use the worksheet from to get your calculation
How Much Is A Hot Water Tank

When you are finished with this exercise you will know your first hour rating (FHR). Take your FHR and that will be what the capacity of your hot water tank should be.

Optional Add Ons

Now that you have the capacity and FHR of the tank you are going to install, there are some options you may want to consider. Remember that these will add to your overall cost.

  • Drain Line – a drain line and pan are protection against tank leaks that can cause damage to your home.
  • Seismic Protection – living in BC we are on a fault line and seismic protection will help keep your tank upright during an earthquake.

Energy Source

There are two type of hot water tanks that are the most common. The choices are between electric and gas water heaters. Both systems have benefits and detriments. See below.

There may be a situation where you live that you do not have access to natural gas and your choice may be limited to electric.

How Much Is A Hot Water Tank

Energy Efficiency

Today, energy efficiency is more important than ever. An energy efficient water heater will save you money and at the same time be better on the environment.

The energy efficiency of a hot water heater is measured by the units EF (Energy Factor) rating. You will find the rating of a water heater on the label on the manufacturer that is placed on the unit.

Unfortunately, the better the energy efficiency, the higher the purchase cost of water heaters.

Installation Difficulty

The more difficult the installation the higher the installation cost. Some factors that increase the cost are’

  • The current water tank is installed incorrectly
  • You have chosen to move the location of your water tank
  • It is to be installed in a place that is hard to access like a crawlspace
  • The existing pipes need to be replaced

Plumber Charges

It is always best to make sure you are getting a reputable plumber when you need any plumbing work done. Check the following as a good plumber will meet all these needs.

  • They are insured and licensed
  • Will provide a quote before work is started
  • Reviews are positive

At Lillie Family Heating & Plumbing we meet all these factors and are ready to help.

We Are Here For You!

If you have any questions call the professionals at Lillie Family Heating & Plumbing and we will be happy to answer them for you. For any electrical issues visit our sister website Highmark Electrical


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