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For a basic 1 heater project in zip code 47474, the benchmark cost to Install an Electric Water Heater ranges between $1,045 - $1,233 per heater. 1. Set Project Zip Code Enter the Zip Code for the location where labor is hired and materials purchased.
$950 for 50 gallon (including installation) $1,250 for 50 gallon (including 7 year warranty, and a couple hours of labor trying to fix the old one first) $1,170 for 40 gallon (including installation) $2,800 for 50 gallon (including installation) The Takeaway for Standard Water Heaters: The majority of readers went with 40 or 50 gallon heaters. On average, based on our reader reports, you can expect to spend $1017 on a 40 gallon and $1421 on a 50 gallon, with electric water heaters being a little less expensive than gas.