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Cost of a Tankless Water Heater - Estimates and Prices Paid

How much a tankless water heater should cost. Average costs and comments from CostHelper's team of professional journalists and community of users. A small point-of-use tankless water heater (typically electric) for a single sink/shower can cost $120-$350 for a unit that fits under a sink or in a cabinet and produces 2-2.5 gallons per minute (gpm).