A conventional tank install typically runs in the $1,500–$3,500 range locally; tankless costs more up front because the unit, gas line sizing and venting are all bigger jobs. The question is whether tankless's advantages are worth that gap for your household.
Tankless wins on: endless hot water (the third shower matches the first), lifespan (often 15–20 years versus 8–12 for tanks), standby losses (it heats nothing while you're at work), and floor space. If you're paying monthly rental on an aging tank, the math shifts further toward owning tankless.
Tank wins on: up-front cost, simplicity, and light-usage households where 'endless' hot water solves a problem you don't have. A one-person condo rarely needs a Rinnai.
The install is the whole game with tankless — undersized gas lines and lazy venting are why some people hate theirs. Ours are done to code with correct sizing, which is why we're comfortable installing the brand we'd put in our own homes.
Tankless makes sense if
- You regularly run out of hot water
- Your tank is 10+ years old or rented
- You'll be in the home 5+ years
- You want the storage space back
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