If you are considering installing a tankless water heater, then undoubtedly one of the burning questions on your mind is how much will it cost and whether a tankless water heater makes sense for your home.
Our research shows the national average cost for installing a tankless water heater can range between $2,500 and $4,500, with most homeowners paying about $3,500-$4,000 for a gas-powered whole house unit. For an electric water heater, the national average cost is closer to $2,800-$3,500.
The factors that determine the total cost are:
- Cost of the tankless water heater itself
- Installation labor by a local, licensed, and insured plumber
- Installation materials
- Permits where/when required
- Removal and disposal of the old unit
In this guide, we will review 10 of the top tankless water heaters available today – their retail cost, some pros and cons received from homeowners, and then we will explain why we selected each model.
If you would like to get right to the reviews, you can skip down to that section below. But for those who may be thinking about changing from a traditional tank-type water heater to a tankless model, here is some information that might help you make your decision.
Top 10 Tankless Water Heaters and Their Costs
Here is the list with their retail cost. We’ve selected models from the various types of whole house tankless water heaters. There is a full review for each below, plus the installation costs.
- Rinnai Indoor Tankless Hot Water Heater, RL75iN Natural Gas/RL75iP Propane, $1,125
- Rheem Performance Plus Indoor ECO160DVLN3-1, $800
- EZ Tankless Supreme on Demand Indoor EZSUPNG, $815
- Rinnai RLX94iN RRLX94iN, Large, $1,375
- O. Smith Signature Select Indoor GT15-510C-I, $1,100
- Rheem Performance Platinum High Efficiency ECOH200DVLN-2, $1,300
- O. Smith Signature Premier Condensing Indoor GT15-540-NI, $1,540
- Rheem Performance Self-Modulating RETEX-36, $560
- Stiebel Eltron Self-Modulating Tempra 36 Trend, $750
- Eemax HomeAdvantage II HA036240, $810
The reviews are next. However, for those not familiar with tankless water heater options, features, and efficiency issues, we highly recommend reading our Buying Guide below the reviews.