Water Heaters
Buy vs Rent a Water Heater in Ontario: 15-Year Cost Comparison
Renting a power vent water heater in Ontario costs more than $6,800 over 15 years at typical rates. Buying one installed starts at $2,195. Here's t...
Water Heaters
Water Heater Replacement Cost in the GTA & Ontario (2026)
Short answer: Across the GTA and Southern Ontario in 2026, replacing a 40 to 60 gallon gas water heater costs $2,195 to $3,295 installed with Mr. Heating & Home, depending on size and venting. A Rinnai condensing tankless heater costs $5,495 to $6,045 installed. Prices are before tax and include standard installation and removal of your old tank.
2026 installed prices
| Water heater | Sizes | Installed price |
|---|---|---|
| Bradford White power vent | 40, 50, 60 gal | $2,195 – $3,295 |
| John Wood power vent | 40, 50, 60 gal | $2,195 – $3,295 |
| Rheem power vent | 40, 50 gal | $2,195 |
| John Wood chimney vent | 40, 50, 60 gal | $2,195 – $3,295 |
| Rheem chimney vent | 40, 50 gal | $2,195 |
| Lennox chimney vent | 50 gal | $2,195 |
| Bradford White chimney vent | 60 gal | $3,295 |
| Rinnai RX condensing tankless | RX160, RX180, RX199 | $5,495 – $6,045 |
Prices in CAD, before HST, for standard installation. See each product page for the exact price of each size.
What the installed price includes
- The new water heater, delivered
- Installation by certified, insured gas technicians
- Water, gas and venting connections for a like-for-like swap
- Start-up, safety checks and testing
- Removal and haul-away of your old tank (rental tanks are left for the rental company)
- Manufacturer warranty registration
What can cost extra
Most swaps are like-for-like and cost exactly the listed price. Extra work comes up when your home needs a change, most often:
- A venting change, such as converting from chimney vent to power vent when your chimney can't safely vent the new tank
- Gas line work, especially when moving from a tank to a tankless heater, which needs more gas
- A condensate drain or pump for condensing and tankless models
- A drain pan or expansion tank where your home's setup or local code calls for one
We confirm your setup by phone before install day. Send a photo of your current tank and its rating plate and we can spot most extras in advance. Anything extra is quoted and agreed before we start.
Why older homes see venting changes
Many older bungalows and semis, from Scarborough and Mississauga to Oshawa and Kitchener, have chimney-vented tanks that shared a chimney with an old furnace. When the furnace is upgraded to a high-efficiency model, which vents through the wall, the water heater is left alone in a chimney sized for two appliances. That can cause poor drafting. The usual fixes are a chimney liner or a switch to a power vent tank. Read our power vent vs chimney vent guide to see which fits your home.
How to choose a size
- 40 gallons: 1 to 2 people, 1 bathroom
- 50 gallons: 3 to 4 people, 2 bathrooms (the most common size)
- 60 gallons: 5 or more people, or a large soaker tub
- Tankless: larger households that run out of hot water, or homes short on space
Not sure? Call 905-418-2629 and we'll size it with you.
Frequently asked questions
How much does it cost to replace a water heater in Ontario?
Expect about $2,195 to $3,295 installed for a 40 to 60 gallon gas tank, and $5,495 to $6,045 for a condensing tankless heater, with Mr. Heating & Home. Venting or gas line changes add to that and are quoted before work starts.
How long does a water heater replacement take?
A like-for-like tank swap usually takes a few hours. Tankless conversions take longer because of gas and venting work. In the GTA, same-day installs are often available when you order early in the day.
Who can install a gas water heater in Ontario?
Gas appliance work in Ontario must be done by a TSSA-registered contractor using licensed gas technicians. Our installs are done by TSSA-registered, insured and bonded gas technicians.
Is it cheaper to rent?
Not over the life of the tank. See our 15-year buy vs rent comparison.
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