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Water Heater Replacement Cost in Markham

Water Heater Replacement in Markham typically costs $1,100 – $3,000
Gas storage water heater (owned) · excluding 13% HST · compiled in 2026 year 10 month

Buying out and replacing a gas storage water heater Water Heaters usually costs $1,100–$3,000 (average in Toronto about $1,800); gas tankless costs $2,800–$4,500 (using existing vent) up to $4,000–$6,500 (condensing, new vent). Many in Ontario rent Water Heaters, long-term renting is more expensive than buying.

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Estimate $1,100 – $3,000 (before tax)
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Price ranges

Water Heaters typePrice
Gas storage water heater (purchase outright)$1,100 – $3,000
Gas instant heater (using existing vent)$2,800 – $4,500
Condensing Gas Instant Heater (New PVC Vent)$4,000 – $6,500
Gas Instant Heater + Gas Line Upgrade$5,000 – $10,000
Electric Instant Heater$800 – $2,500

What affects the price

  • Permit and debris removal: Permit price approx. $150–$500, old furnace disposal $75–$300

Local notes for Markham

Saving money & avoiding pitfalls

  • Rented Water Heaters: storage-style monthly rent $30–$40, contracts often include annual increases (e.g., at 3.5% or higher inflation); one family paid $4,162 over 28 years rent (CTV). Estimates suggest buying outright becomes cost-effective after about 3–4 years.
  • Before replacing rented Water Heaters, check lease termination terms and early termination fees.

FAQ

Is it better to rent or buy Water Heaters?

According to public sources, owning and installing storage water heater Water Heaters costs about $1,000–$1,600 (entry model). Renting is about $30–$40 per month with annual increases; estimated that buying becomes cost-effective after 3–4 years.

Sources

Public sources used for the prices on this page (10/2026). Sources measure differently, so we use the range where most of them overlap. For reference only — actual quotes from pros take precedence.

  1. HomeStars – Tankless water heater cost（2026-08）
  2. HomeStars – Hot water tank replacement cost
  3. HomeStars – Plumbing services cost Toronto（2026-08）
  4. Cansumer – Hot water heater cost（2023-11）
  5. CTV News Toronto – family pays more than $4,000 renting water heater
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