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Traditional gas or electric water heaters last an average of six to 11 years. However, with excellent maintenance, they can last up to 15 years. Heat pump water heaters, on the other hand, last an average of between 12 and 15 years and potentially longer with proper maintenance. In both cases, your home's water quality can be a determining factor regarding the lifespan of your water heater.

Tankless water heaters heat water as it passes through the unit instead of storing heated water in the tank. Their ability to produce hot water on an as-needed basis makes them more efficient. However, they are generally more expensive than traditional units. Is a tankless water heater worth it? Most homeowners will save money with a tankless unit in the long run by using less energy.

Yes, you can replace a current tank water heater with a tankless model or vice versa. If you’re maintaining the same fuel source—gas or electricity—the switchover should be smooth. A conventional tank requires open floor space, while a tankless model can be wall-mounted. If you’re switching to a tank water heater, you might need to clear space for it. Gas-powered tankless water heaters need a large volume of gas when they start running to heat the water instantly. You might need to increase the size of the gas line when going from a tank to a tankless model.

The average cost to replace a water heater is around $1,325, with a typical range of $900 to $1,800 for a standard replacement. The final price depends on the type of heater (tank vs. tankless), its size, fuel source (gas or electric), and the complexity of the installation. A simple one-to-one replacement will be on the lower end of the cost spectrum. However, if you are switching from one type of heater or energy source to another, you can expect labor costs to be significantly higher due to the extra work involved. It's also worth considering that while gas and electric heaters may have similar upfront costs, their long-term operating costs can differ based on local utility prices.