Have you noticed a rise in the cost of your electricity bills? How often does your furnace turn on or off automatically? Unusual sounds or foul odors emanating from your heating system may have caught your attention. These are warning signals that your furnace’s performance is deteriorating.
While you may have some time left, you should probably replace your system before it fails. Contact an HVAC technician for repairs or furnace installation in Mill Creek. Worried about the state of your furnace? Here’s everything you need to know about replacing it, including the cost.
How Much Does a Furnace Replacement Cost?
On average, the cost of a new home furnace and installation labor ranges from $2,000 to $6,000. For a high-efficiency heating system, a gas furnace replacement costs between $3,300 and $6,900. The cost of a new furnace is determined by the system size, efficiency, brand, fuel type, and installation labor.
- Most furnaces have a 15 to 30-year lifespan.
- Gas furnaces are the most widely used and have the lowest operating expenses for households.
- High-efficiency furnaces are 30% to 100% more expensive, but they help you save a year on electricity bills.
The Average Cost of Replacement of Gas Furnace by type
The average cost of a furnace replacement varies by its type.
- Gas furnace
The average cost of a gas furnace replacement ranges from $2,000 to $5,200, depending on the model and size. High-efficiency gas furnaces are 30% to 50% more expensive, but they save $100 to $200 a year on utility expenses. Natural gas furnaces are appropriate for most climates, have the minimum operating costs, and have a 15 to 25-year lifespan.
- Electric furnace
Depending on the type, size and complexity of installing an electric furnace, it might cost between $1,900 and $5,600 to replace an electric furnace. Electric furnaces are most prevalent in warmer regions and last 20 to 30 years, but they cost three to four times as much to operate as natural gas furnaces.
- Oil furnace
The average cost of an oil furnace replacement ranges from $2,500 to $6,000, depending on the brand, size, and efficiency. Oil furnaces, which typically last 15 to 25 years, are used in rural or colder areas.
- Propane furnace
The average cost of replacing a propane furnace ranges from $2,200 to $5,700, depending on the brand, size, and efficiency rate. Propane furnaces are widespread in rural regions and have a life expectancy of 15 to 20 years.
Costs of Installing a New Furnace
The cost of installing a new furnace is determined by the energy efficiency and size of the heater in BTUs, the size of your home, ductwork changes, labor, permits, and installation complexity.
Furnace installation labor costs
Installation costs depend on the type of the system, its efficiency rating, and work complexity, the labor cost to install a furnace ranges from $600 to $3,100. Furnace installers charge between $70 and $100 per hour, plus $30 to $50 per hour for each assistant. It takes 4 to 18 hours to install a furnace.