How Much Does a New Furnace Cost?

The cost of a new furnace can vary widely based on a variety of factors, including the brand, efficiency rating, the size of your home, cost of living prices in your area, and installation costs.

In general, you can expect to pay anywhere from around $1,700 to over $6,000. Keep in mind that investing more upfront in an energy-efficient model can save you money on monthly utility bills and you may be eligible for certain tax breaks.

So while there is no easy answer to the question, “how much does a new furnace cost,” you will probably end up spending thousands of dollars for a new unit.

The average cost of a new furnace is $3,100. While electric furnaces cost less upfront, you will end up paying more for your energy usage. Gas furnaces tend to offer the best balance between initial cost and energy pricing for a solution that offers long-term savings over other options.

One of the major costs associated with purchasing a furnace replacement is installation costs. You will need to hire an experienced professional to make sure that everything is set up properly. Fortunately for St. Louis residents, the cost to install a furnace is less than the national average. St. Louis homeowners don’t have to pay the same installation fees as homeowners in other parts of the country for the same furnace.

Furnace prices are determined by a variety of factors. In some cases, installation can be complicated by the location of the furnace, how much ductwork is required for proper installation, and the type of fuel the furnace uses.

Your installation professional will be able to evaluate your home and offer a detailed heating installation estimate so that you don’t have to worry about hidden costs. The brand, size, and efficiency rating of the furnace will also affect pricing, so be sure to shop around and find the right products to fit your home and your budget.

Outside of the price of the actual equipment, installation labor is often a primary factor in determining furnace installation cost.  When it comes to quality labor, you tend to get what you pay for.  However, Superior takes pride in providing experienced, quality work at fair prices. 

If you encounter a cheap furnace installation bid, we recommend asking questions in order to help determine the experience and knowledge of the installers.  

Furnace installation costs can be significantly impacted by where the furnace is located in the home. If installers have to crawl under the house and/or work in cramped spaces with poor lighting, the entire installation process will take longer. The easier the furnace is to access, the more you will save on installation.

Replacing an old unit may require new and additional ductwork. There may also be sections of the old ductwork that are damaged and causing leaks that make your entire home less energy efficient. The amount of work required to get your furnace ductwork up to working standards and fitted to your new furnace will help determine installation costs.

When it comes to installation costs, there are notable differences when considering electric versus gas furnaces. Gas furnaces tend to cost more upfront because they require a more complicated installation process in order to address carbon monoxide safety issues. Electric furnaces are less expensive and easier to install, but you will end up paying higher fuel costs while also sacrificing a certain amount of efficiency.

When it comes to gas furnace prices, the national average for installation is around $3,000 to $7,000. Remember those are national averages (the St Louis market is often less expensive), and that most of the cost goes towards installation. If you live in a colder climate and want to save on monthly fuel costs, a gas furnace may be the most cost-effective and efficient option.

While electric furnace prices tend to be lower than gas furnaces, there are some potential drawbacks to be aware of. While electric furnaces are cheaper to install, they aren’t quite as efficient and come with higher fuel costs. For these reasons, they are best suited for people in warmer locations where there is less demand for the furnace.

The difference between high-efficiency furnaces versus standard efficiency furnaces comes down to how much fuel is actually converted into heat. With a standard efficiency model, about 80% of gas is directly converted into heat. A high-efficiency model can turn 90-97% of gas into heat, which means that you save on energy costs.

Start by scheduling your free replacement estimate today. An experienced technician can evaluate your home, recommend different models, and provide you with a free estimate. From there, you can start planning for your new heating system and begin enjoying a more comfortable home.