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8 min read Published February 18, 2022
Written by Lena Borrelli Written by Lena BorrelliArrow RightInsurance Contributor Lena Muhtadi Borrelli has several years of experience in writing for insurance domains such as allconnect, Healthline and Reviews.com. She previously worked for Morgan Stanley.
Lena Borrelli
Edited by Troy Segal Edited by Troy SegalArrow RightSenior homeownership editor Troy Segal is Bankrate's Senior Homeownership Editor, focusing on everything from upkeep and maintenance to building equity and enhancing value. No homeowner looks forward to the day their HVAC system fails. In fact, it’s likely one of the most dreaded home system replacements. And as luck would have it, HVACs are more likely to fail when it’s either super hot outside, or during the most frigid days of winter. If your HVAC fails your mind likely immediately turns to replacing it as quickly as possible, so you may be wondering about the cost to replace an HVAC system. Featured Partners THIS IS AN ADVERTISEMENT AND NOT EDITORIAL CONTENT. Please note that we do receive compensation for any products you buy or sign up to via this advertisement, and that compensation impacts the ranking and placement of any offers listed herein. We do not present information about every offer available. The information and savings numbers depicted above are for demonstration purposes only, and your results may vary. Estimation Fee None, Free Estimates Estimation Fee None, Free Estimates On average, when looking to replace your HVAC system, the cost for the unit itself will range between $4,850 and $9,400. If you don’t want to sweat buckets at night or wear three layers of clothes during the day, it pays to replace your HVAC system as soon as it stops functioning. Also note that this average cost is dependent on the brand you purchase, the size of your home and the HVAC installation cost charged by the professional you call. Here, we have all the information you’ll need to ensure you’re paying the right price for the unit that best suits your home. If you’re considering which HVAC systems you want to invest in, make sure compare services to find the best HVAC company for you. HVAC provides three different functions for your home:What Is an HVAC System?
- Heating
- Ventilation
- Air Conditioning
Sometimes, HVAC is followed by a fourth letter—an R (HVAC/R or HVAC-R). R stands for refrigeration, and usually only applies in commercial settings (although, let’s face it, if you love to cook, are feeding a larger family or just like to stock up on frozen goods a commercial-sized refrigeration unit might sound pretty appealing).
6 Types of HVAC Systems
1. Electric Furnace/AC System
If you live in a location where warm weather prevails, such as parts of Texas or Florida, this type of HVAC system might be suitable for your home. Whereas most HVAC systems utilize gas or oil, an electric furnace for heating, combined with an electric cooling system, offers a more eco-friendly option. Ductwork is required for this option, which uses electricity to push heated or cooled air throughout your home.
2. Boiler/AC System
This system is distinguished by its boiler component, which is typically installed and located in the basement of a home. The boiler is connected to pipes and radiators throughout the house, and sends heated water throughout after it has successfully warmed the water effectively. Many homeowners choose the boiler system to meet their heating needs, and have a separate, but complementary, air conditioning system installed along with the boiler unit to complete their home’s heating and cooling needs.
3. Furnace/Split AC System
If you have a larger residence, this system might be a good option because it allows you to customize the system to meet the needs of your home. This type of system is made up of an outdoor cabinet that holds a compressor (for cooling) and a condenser (for heating) as well as an indoor cabinet that houses an evaporator coil for heating and air handler for cooling. Both of these cabinets are connected by a copper tube called a line set, which transports cold air to the home.
4. Heat Pump/Air Handler System
This system is made up of a heat pump that is typically installed outside of the home and works to heat and cool the air by way of a refrigerant, which transports hot air outdoors and vice versa. The air handler exists inside the home and circulates cool or warm air throughout by way of an air blower.
5. Mini Split Heat Pump
This HVAC system option has become more popular in recent years for several reasons—it does not require any ductwork, it is one of the most energy-efficient heating and cooling options available for homes and the indoor component of mini split heat pumps are installed inside your home’s existing ductwork, so as to remain hidden (it’s good to note that mini split heat pump systems are available as ducted units as well, but may require more money to install).
6. Geothermal Heat Pump
These systems create heat from underground sources—water and soil—to warm the home. Water is gathered by way of an underground piping system that gathers water and works to either heat or cool it before pumping the water back into the home to create and maintain the desired temperature.
How to Save Money on HVAC Installation
With such a large price tag for an HVAC unit replacement, many homeowners wonder how to help save money during this process. One great way to do so is to search for manufacturer rebates. These price incentives can often be combined with any other deals you’re able to locate, or any discounts your installer might offer. To search for rebates, simply visit the manufacturer’s website and search for the model you’re looking to purchase.
And when it comes to finding an HVAC professional, you may be able to save on the installation cost by finding a contractor through word of mouth rather than signing with a large, well-known company.
THIS IS AN ADVERTISEMENT AND NOT EDITORIAL CONTENT. Please note that we do receive compensation for any products you buy or sign up to via this advertisement, and that compensation impacts the ranking and placement of any offers listed herein. We do not present information about every offer available. The information and savings numbers depicted above are for demonstration purposes only, and your results may vary.
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Find a HVAC ContractorHVAC Installation Cost Per Square Foot
If you live in a single-level, two-bedroom home, you’ll likely pay less (all things equal) for your HVAC system than a family dwelling in a three-story home with five bedrooms. That’s right—the HVAC installation cost per square foot varies based on the size of the home it’s installed for. While few contractors will provide a price quote based on square footage, the average HVAC installation cost per square foot is between $15 to $18.
The following table breaks down HVAC installation costs per square foot for new construction homes.
HVAC Installation Cost of Different Parts
Since it serves both heating and cooling functions, an HVAC is a complicated system made up of many different parts. Your installation professional should be able to advise you as to whether you need a complete replacement, or simply a new part for your existing unit. In some cases, this could save you money on the cost to replace an HVAC system.
In others, such as if you’re switching out a conventional heat pump for a geothermal heat pump, you’ll still face a pretty high price tag. Either way, here’s a comprehensive breakdown of HVAC system costs for different parts.
Air Conditioner
A central air conditioner works to keep your whole home cool by circulating air over refrigerated coils. Large homes may need separate systems in order to keep the entire home cool. The average cost to install an air conditioner is between $3,350 and $5,910.
Heat Pump
A heat pump is a vital part of your HVAC system. It transfers air from a cooler area to a warmer area using thermal energy. If you need just a heat pump replaced, expect to pay an average of $4,000 to $8,000. On the other end of the spectrum, a geothermal heat pump can be about five times that price, averaging $15,000 to $35,000.
However, installing a geothermal system will save you a great deal of money on heating and cooling costs for many years to come. These systems draw from the stable temperatures of the earth in order to maintain a steady temperature in the home.
Gas Furnace
A furnace is a heating system that uses some sort of fuel to heat an entire home or building. A gas furnace will cost an average of $1,800 to $4,000 to replace.
Oil Furnace
An oil furnace uses oil to heat your home. Often, installation of an oil furnace includes more intensive work, like adding a chimney and an exhaust system. Thus, oil and gas furnaces are often more expensive than electric furnaces. The average cost to install an oil furnace ranges between $4,200 and $6,900.
THIS IS AN ADVERTISEMENT AND NOT EDITORIAL CONTENT. Please note that we do receive compensation for any products you buy or sign up to via this advertisement, and that compensation impacts the ranking and placement of any offers listed herein. We do not present information about every offer available. The information and savings numbers depicted above are for demonstration purposes only, and your results may vary.
Compare Quotes From Top-rated Heating And Cooling Contractors
Free, No-commitment Estimates
Electric Furnace
At an average cost of $1,600 to $2,500, an electric furnace is typically less expensive than a gas or oil furnace.
Boiler
A boiler works to heat your home using hot water forced through pipes. It’s a more advanced system than a furnace alone, and produces comfortable, ambient heat in your home rather than hot air being projected through heat vents. The average cost to install a boiler in your home is between $1,500 and $3,500.
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