The cost to install a new water heater will depend on several factors that include the type of water heater, size, brand, installation requirements, and installation methods used.
Most water heaters will be Atmospheric Vent units that run off natural gas. These are among the least expensive types of water heaters and range anywhere from $350-$500 for the tank itself. Typical parts and installation can be anywhere from $300-$800. Other types of water heaters such as tankless and power vent can cost 2-3 times as much to have installed.
The size of the water heater might not make a big difference. We only have a $6 difference in price between a 40 gallon and 50 gallon hot water tank.
The brand of the water heater could also have a significant impact of the price you pay. The least expensive tanks are usually Rheem, Whirlpool, and State Select. Bradford White and AO Smith are higher quality tanks that are usually a little more expensive to purchase.
The installation requirements may be the biggest factor in determining cost. One of the most common installation variables has to do with the way the gas and water lines are connected. It’s a good idea to hard pipe your supply lines to prevent problems down the road as well as avoid using sharkbite connectors. Other variables with installation can include the need to remove saddle valves, updating the gas line, and flue liners.