A tankless water heater may be the answer if you're tired of running out of hot water—it heats water as you need it. Tankless water heater prices range from $1,171 to $3,331, with $2,216 being the national average, according to HomeAdvisor. The cost of installing a tankless water heater is determined by the kind, brand, and flow rate. When compared to a standard tank-style water heater, a tankless water heater can save money in the long term if built and connected appropriately. If you are still wondering, Why Is Tankless Water Heater Installation So Expensive, Read our blog post now!