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2019 Tankless Water Heater Cost | Prices & Installation Cost

Tankless Water Heater Cost. Tankless water heaters cost around 2-3 times more than traditional storage tanks. The average cost for a tankless water heater installation is $1,985, or between $1,470–$2,510.If your home needs to be rewired, it can easily add $3,000 or more to the cost of installing a tankless water heater.