Top 10 Tankless Water Heaters: Costs, Plus Pros & Cons

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.

  1. Rinnai Indoor Tankless Hot Water Heater, RL75iN Natural Gas/RL75iP Propane, $1,125
  2. Rheem Performance Plus Indoor ECO160DVLN3-1, $800
  3. EZ Tankless Supreme on Demand Indoor EZSUPNG, $815
  4. Rinnai RLX94iN RRLX94iN, Large, $1,375
  5. O. Smith Signature Select Indoor GT15-510C-I, $1,100
  6. Rheem Performance Platinum High Efficiency ECOH200DVLN-2, $1,300
  7. O. Smith Signature Premier Condensing Indoor GT15-540-NI, $1,540
  8. Rheem Performance Self-Modulating RETEX-36, $560
  9. Stiebel Eltron Self-Modulating Tempra 36 Trend, $750
  10. 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.

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Top 10 Water Heaters: Costs, Pros & Cons – Tank vs. Tankless

We’ve researched the best water heaters available for residential use to help you, the homeowner, make a smart buying decision. In this guide, we provide a list of 10 best conventional water heaters including their features, pros and cons, plus prices to consider as you make your buying decision.

Conventional water heaters are also known as tank style water heaters. You’ll notice that three brands dominate – Rheem, A.O. Smith, and Bradford White. We have no prejudice or affiliation with these competing brands. Our goal is simply to review the best water heaters for your consideration. And these brands lead the pack.

We have selected several models that give you options – gas, electric and hybrid types. Here’s our top 10 list; reviews are found below.

Tank Style Water Heaters Top Ten

  1. Rheem Performance Platinum XG50S12DM40U0
  2. A. O. Smith Signature Premier G12-UFDT5040NV
  3. Bradford White Residential Atmospheric Water Heater
  4. Rheem Performance Platinum XP50T12DM36U0
  5. Rheem Performance Platinum Gladiator Smart XE50T12CS55U1
  6. Rheem Performance Plus XE50M09EL55U1
  7. A. O. Smith Signature Select E9-50R55DV
  8. Bradford White RE350S6-1NCWW
  9. Rheem Performance Platinum Hybrid Smart Tank XE50T10H45U0
  10. A. O. Smith Signature Premier Hybrid HP10-50H45DV

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