Currently, in the USA, you can barely find people who are not using a furnace at their home or office. Unfortunately, when we think of replacing or getting a new furnace, we suddenly get demented. As a new furnace can last more than 20 years, so we usually do not worry too much about this stuff. Because of that, we barely know the price of a new furnace. Honestly, finding a budget-friendly high efficient furnace is a completely tough job. We’ve listed the average cost of new furnace to make your job easier, considering the size and other factors.
There are hundreds or thousands of types of furnaces in the super shop; if you get lost in those products, read this writing. You will have proper knowledge about the price range along with the different types of furnace features. In addition, if you are an oil furnace user, here you will get to know the other types of furnaces like electric furnaces, gas furnaces, coal furnaces or solar furnaces.
Table of Contents
Cost of New Furnace
Well, before you hop in to buy a new furnace, hold on a second. Because you need to consider a few things; otherwise, you may come short. First of all, check out the home size you have. This is crucial because the furnace should warm up the house properly. Hence, calculate the average heating capacity and home size before taking any decision. Let’s see in the table cost of new furnace:
| Average Home size (square foot) | Furnace size (BTU) | Average total cost ($) |
| 500-1000 | 2800 | 40000 |
| 1000-1500 | 3100 | 60000 |
| 1500-2000 | 3300 | 80000 |
| 2000-2500 | 3500 | 100000 |
| 2500-3000 | 4500 | 120000 |
Actually, this table is made by analyzing the typical home and furnace size. However, if you look for the cheapest options, you may get some.
Secondly, you need to consider the efficiency of the furnace. Depending on your budget, there are furnace costs around $1000 to $7000. If you have a healthy budget, you can get a high-efficiency furnace with an Annual Fuel Utilization Efficiency (AFUE) rating of more than 90%. This may cost around $3500 to more. Besides, the mid-efficiency furnace with an AFUE of more than 80% will cost about $1500 to $3000.
| Furnace efficiency | AFUE rate % | Cost $ |
| Mid | 80-89 | 1500-3000 |
| High | 90-98 | 3500 to more |
Now, the question comes, ‘how will this furnace will vent the heat?’ In fact, the mid-efficiency furnace will use the metal chimney, and the high-efficiency ones will use PVC pipe.
So, let’s see the cost of new furnace for other categories as well down below.
New Gas Furnace Cost
Gas furnaces can be your best companion for your home heating activity based on affordability and quality services. There are multiple brands for gas furnaces out there in the marketplace, such as Goodman, Day & Night, York, Trane, Carrier, Payne etc.
Additionally, for the expenses, you need to keep some factors in mind. For instance, you might need to spend around $4,000 to $7,200 in order to get a fully installed gas furnace. The hourly wage is $55-$90 for HVAC contractors. If you are required to do some ductwork or modifications, the price may rise up to $10,200 approximately. Other than this, some miscellaneous elements might cost you some extra money, around $600- $1,000 approximately.
Suitable Gas Furnace Brands & Setup Expenses
There are a bunch of top brands out there based on your budget, quality, service etc. Thus, we can categories them into three parts based on these factors. For instance, a) Basic b) Midrange c) Premium.
Although, if you are considering reliability and long term quality service, then we recommend Carrier as a premium brand. It will cost you around $2,865 for the furnace cost and $4,465 for the installation cost. Hence, on the other hand, you can pick Payne as a price-friendly brand. You will need to spend around $2,000 on the furnace costs. And for the installation cost, it’s around $3,500.
New Oil Furnace Cost
Particularly, Oil furnaces are considered as one of the necessary elements for the Northeast region. Especially, the climate here is not temperate and suitable like in temperate regions. That’s why people tend to use affordable oil furnaces for their comfort.
Though the functions, operating systems and installation process are a bit complicated in some cases. Hence, here are some branded and affordable oil furnace suggestions for you.
First, let us categorise the price range to make you pick a reliable heat source.
Category A: 1100$ – 1700$ (Affordable Brands)
Category B: 1700$ – 2300$ (Mid to High range Brands)
Some of the affordable brands are Armstrong, Olsen, Ducane, Rheem Furnace Units etc. On the other hand, many mid to high-tier brands are Miler, Lennox Furnace Units, Trane Furnace Units, Thermo Pride, etc.
Consumers Preferences of Oil Furnace
From the mentioned brands, you can choose whichever you want. Because every brand is known to maintain both their high-quality product and effective customer service.
Hence, based on people’s reviews and feedback, we recommend Ducane as an affordable brand and Miller as a high tier brand. Generally, Ducane will cost you $1,335 as unit costs and $5,315 as installation costs. On the other hand, Miller will cost you $1,865 as unit costs and $5,975 as installation costs.
To clarify, these brands are capable of providing 20+ years of effective services. So, their reliability is proved based on their existence in the marketplace for a couple of decades.
New Electric Furnace Cost
In general, Electric furnaces are quite popular among consumers because of their easy access and less installation hassle. However, setting up an electric furnace depends on the brand value, service cost, unit size, etc. Although, in comparison with other furnaces, it may cost you a bit of money initially. But later you will be able to save a lot of money from it.
Moreover, some of the well known electric furnace brands are, for example, Amara Furnaces, Bryant Furnaces, Carrier Furnaces, Goodman Furnaces, HEIL Furnaces, Ruud Furnaces etc.
Preferred Electric Furnace By Customers
Based on the consumer’s feedback, we recommend you to pick Goodman Electric Furnace. Additionally, it may cost you up to $4,100 to $6,200 on average. However, the furnace cost of this brand is around $850, and the minimum installation cost is approximately $2,350. In addition to this, you need to keep in mind some other expenses, for instance, maintenance cost, labour cost etc. You can pick any other brand based on your preference as well.
Variety Of Other Furnaces & Additional Costs
Generally, you might need to bear some extra expenses other than unit cost and installation cost furnaces. For instance, there are some environment-friendly heating systems like solar panels, geothermal, split systems etc. You need to keep in mind that these may cost up to $3,000 to $20,000 based on your preference.
Other than this, you can even go for Coal Furnace that may cost you up to $4,000 to $10,000. This type of furnace requires a pellet stove and wood stove installation cost as well. You can also prefer natural gas & Propane furnaces. However, these are quite affordable, and the expense range is between $2,000 to $5,000 approximately.
FAQs: Cost of New Furnace
1: How do you know if your furnace is dying?
Answer: There are many factors and symptoms that will tell you if your furnace is dying. Thus, A few of them are down below:
- Normally, the average lifespan of a furnace is about 15 to 20 years max. If your furnace age is more than this, your furnace is dying.
- With age, a furnace starts losing its efficiency, which will lead to high electric bills.
- Are you paying extra for preparing your furnace lately? Surely, it is dying, and you should consider a change.
- After all, if you feel uncomfortable and some of the symptoms like headaches, nausea, burning eyes and many more appear, then these are the reason of furnace is dying.
2: How long should a furnace last?
Answer: Frequently, you may hear that the furnace age is the same as mine, 40-45 years! Undoubtedly, these are myths and utterly rare. Hence, the exact or most of the manufacturers claim, it is about 15 to 25 years of age. However, after 15 years, the efficiency rate starts decreasing.
3: Can I replace my furnace myself?
Answer: Yes, surely you can. However, you may need to consider multiple branches of factors according to your skill, budget, and circumstances. Correspondingly, let’s get some idea about the factors down below:
- Picking the suitable size of furnace
- Breaching the warranty of the new furnace.
- Selecting the best furnace for your requirements
- Complicated installation process and more
Final Thoughts of Cost of New Furnace
Well, we took everything and displayed the cost of new furnace in front of your eyes. However, you are the one to make the decision. According to your budget, choose the one that suits you best. Still, before you buy, read the other article on furnace filter we have to get a clear understanding—the suggestion we gave you, try to take them into consideration to get better performance.
To conclude, if you found this article helpful, share it with your friends. Let us know if you have any queries in the comment box. Moreover, check out different genre’s articles.
