Plumbing

Tankless Water Heaters: Everything Homeowners Need to Know

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Tankless water heater mounted on a wall in a home showing compact design and venting pipe
A tankless water heater (also called an on-demand or instant water heater) heats water only when you turn on a tap, instead of storing 40-50 gallons hot 24/7. Installed cost runs $1,400-$3,000 for electric units and $2,100-$5,600 for gas units, with an average install around $2,637. Expect 18-20 years of life from a gas model and 15-18 years from an electric model — roughly double a standard tank heater. You save 24-34% on water heating bills for homes using less than 41 gallons a day. The top three brands are Rinnai, Navien, and Rheem. Installation is not a DIY job for gas units; electric point-of-use models are the only realistic homeowner install. Read more