How Much Will a New Furnace Cost?
The short answer is that the only way to know what it will cost to replace YOUR furnace is to have a qualified comfort advisor inspect your home and existing equipment and give you the options for replacing your system. But since we know that might be a frustrating answer, we’ll give you some guidelines to help you understand why there is a wide range of prices.
A no-frills, base-model, minimum-efficiency furnace will cost you as little as about $5,000 installed, while a full featured, high-end, high efficiency furnace could cost you as much as $8,000 installed. Additions such as ductwork changes, a whole-home humidifier, an advanced air filter or other accessories would add to these prices.
There are six factors that affect the price of the furnace you choose, and all are important to consider in determining the best furnace for your purposes:
Size
The size factor works in two ways; the size of your furnace and the size of your house. The bigger the furnace, the more expensive your furnace installation cost will be. However, that does not mean you can go out and buy the smallest furnace there is. If your new furnace is too small, there won’t be enough heat flowing throughout the home.
Likewise, you shouldn’t buy the biggest furnace either. If you do, the furnace will overheat, short-cycle, rapidly increase your utility bills and reduce the useful life of your furnace.
Efficiency
Furnace efficiency is measured by AFUE (Annual Fuel Utilization Efficiency). It measures how much energy is converted into heat. The higher the AFUE value, the more efficient the furnace is. For example, a furnace with an AFUE of 80 converts 76% of the fuel to heat and loses 24% out the exhaust pipe.
As time goes on, more and more efficient models are coming out. In fact, you can even purchase a high-efficiency gas furnace where the AFUE rating is as high as 98%. Of course, high-efficiency models cost more than lower-efficient models. But fuel savings and environmental impact make these attractive options.
Brand
There are many brands of furnaces, with some well-known and others more obscure. In the case of home furnaces, the brand does matter. But just because a brand is well-known doesn’t mean it represents quality. For example, York is a well-known brand, but is no longer recommended by Consumer Reports as a trusted brand. Just as is in cars and appliances, as a general rule there is a correlation between price and quality in furnaces. And bear in mind, the cheaper it is, the higher your furnace maintenance and repair costs will be.
Inexpensive Furnace Brands (Listed alphabetically)
- Coleman
- Goodman
- Payne
- Tempstar
Higher Quality Brands (Listed alphabetically)
- American Standard
- Carrier
- Daikin
- Lennox
- Ruud/Rheem
- Trane
Ductwork
If you must add or renovate substantial ductwork in order to achieve maximum comfort or system efficiency, your system installation cost could rapidly rise. The $2000-$7000 furnace price above assumes that your ductwork is in place and performs efficiently. If not, expect an additional $1,000, or more.
Labor
More often than not, homeowners hire HVAC pros to install or replace a new furnace. However, not all pros cost the same. A furnace pro who has been in the business for 20-30 years will charge more than a contractor just starting out. More experience generally means more expertise, which, costs more.
When it comes to labor, we always recommend you gather at least three HVAC quotes from local, reputable, certified, furnace companies. Just make sure one of them is Just Right Heating & Cooling.
Features
Just like a new car, there are certain features you need and certain features you would like. Your new furnace cost will increase or decrease after you decide which features you decide to add.
Whether it’s a programmable thermostat, variable-speed blowers or zoned heating, if you want to keep installation costs down, keep the features to a minimum.
Conclusion
We have installed simple low-efficiency furnaces for as little as $2000, and we have installed highly-complex high-efficiency systems with high-tech features for over $14,000. The price for each furnace is truly as unique as you, your home and your heating needs and desires.