The answer to 'how much does water heater cost' is that the cost of a new water heater can vary widely depending on several factors. In general, you can expect to pay anywhere from $400 to $2,000 or more for a new water heater, including installation. The specific price will depend on the type of water heater (tankless, traditional tank, or hybrid), the size and capacity, the fuel source (electric, gas, or solar), and the complexity of the installation.
For example, a basic 40-50 gallon electric water heater may cost $400-$800, while a high-efficiency tankless water heater can range from $800 to $2,000 or more. The installation costs can also add $200 to $800 or more, depending on the complexity of the job and whether any plumbing or electrical work is required. It's best to get quotes from local plumbers to get an accurate estimate for your specific needs and location.