With a little research, you can find not only an efficient, modern furnace that can handle Indianapolis winters but also a new furnace price that fits your budget.

Purchase Prices

The new furnace price you’ll be looking at depends on both the type of furnace and the level of energy efficiency you want. Electric-resistance furnaces are typically the cheapest to buy, but they’re the least effective at heating. Oil furnaces are more cost-effective for heating but more expensive than electric models, while natural gas furnaces are the most energy efficient but also the most expensive to buy.

Within these categories, higher-efficiency models cost more upfront but offer lower heating bills. A mid-efficiency gas furnace model is sufficient for most homes, but the additional benefits of a high-efficiency model are worth the investment if you’re planning to stay in your home for at least 10 years. These models also perform better and last longer.

Gas furnaces range from $1,500 to $6,500, with mid-efficiency models (90 to 95 AFUE) with a new furnace price between $1,500 and $2,500, and high-efficiency models (96 AFUE and above) starting at around $3,000. Electric-resistance furnaces go for between $1,000 and $1,500, while oil models average between $2,200 to $2,500.

Installation Costs

The type of furnace you choose also affects the installation cost. Electric-resistance furnaces are the least expensive to install, followed by oil and then gas furnaces. In the Indianapolis area, installing a gas furnace runs between $2,500 and $5,500 depending on the model. Upgrading from a low or mid-efficiency gas furnace to a high-efficiency model costs more than replacing a furnace with a model of a similar efficiency rating. That’s because with the first high-efficiency model, your installer will need to add two PVC pipes to replace the single metal one.

Switching from electric or oil to gas can save you in the long run, but it raises the cost of installation, particularly if you need gas lines installed.

For help finding a new furnace price that fits your budget, contact us at Mowery Heating, Cooling and Plumbing anywhere around Indianapolis.