Electric water heaters generally have a lower initial installation cost, typically between $950 and $1,500. Gas water heaters are usually more expensive upfront, costing $1,300 to $2,600 installed, mainly due to venting requirements. However, gas models often have lower monthly operating costs, balancing out the higher initial expense over the unit's lifespan. https://www.amenify.com/blog/water-heater-replacement-cost-installation-prices-guide