How Much Does It Cost to Replace an HVAC System in 2024?

The HVAC system is the unsung hero of the home, keeping us cool in the long hot summer and warm in the short cold winter. So, when it comes to replacing your HVAC system, we want to peel back the curtain a bit and talk about what type of costs to expect when replacing your system. So, How Much Does It Cost to Replace an HVAC System in 2024?

A new HVAC system installation can cost between $8,000 and $23,000, depending on many variables for your home’s needs.

The average homeowner will buy between 1.5 – 3 HVAC systems in their life. Something that we do so seldom as homeowners can often be met with concern and uncertainty so let’s talk about budget numbers to calm the nerves a bit, provide some clarity and find out how much you might need to budget for a new HVAC system. 

Types of HVAC System: 

There are many types of HVAC systems, but for our purposes we will be focusing on the most conventional systems found in homes throughout the Oklahoma market: AC and Gas Furnace Systems, Total Electric Systems, Heat Pump Systems. 

AC and Gas Furnace Systems: 

• AC and Gas Furnace Systems will include the following: Condensing Unit (outside unit), an Evaporator Coil paired with a Gas Furnace (indoor system). This is the most common system found in Oklahoma and provides the most efficient dollar usage of both heating and cooling. 

Total Electric Systems: 

• Total Electric Systems will include the following: Condensing Unit (outside unit), an Air Handler that contains both your Heat Strips and Evaporator Coil (indoor system). This is the least efficient dollar usage of heating due to the cost of electricity and the high amp draw of Heat Strips. 

Heat Pump Systems: 

• Heat Pump Systems will include the following: Heat Pump (outside unit), an Air Handler that contains both your Emergency Back-up Heat Strips and Evaporator Coil (indoor system). This is the most efficient option for homes that do not have access to gas heating. The Heat Pump System allows us to heat the home for a fraction of the cost of Heat Strips.  

Factors Affecting HVAC Replacement Costs: 

There are many factors that go in to pricing an HVAC replacement, because no two homes are the same. Price variability is contingent on the size of the home/ system capacity, type of HVAC system (as seen above), the brand, quality, and efficiency of the HVAC system, and the complexity of the installation (e.g. repairing or replacing duct work or refrigerant lines). 

Average Costs for HVAC Replacement:  

The pricing chart below encompasses the price for our three most common types of HVAC system. 

HVAC Average Price Range by Tonnage: 

• 1.5 Ton: $8,000 – $16,000 
  
• 2 Ton: $8,000 – $16,000 
  
• 2.5 Ton: $8,500 – $18,000 
  
• 3 Ton: $9,000 – $18,500 
  
• 3.5 Ton: $9,500 – $21,000 
  
• 4 Ton: $10,500 – $21,500 
  
• 5 Ton: $11,500 – $23,000 

Saving Money on Your HVAC Replacement: 

Upgrading your HVAC system, though the upfront cost may be an investment, there are ways to save money on your new HVAC system: tax, utility, and manufacturer rebates, as well as saving 30% -55% on your monthly utility bills.  

Conclusion: 

How Much Does It Cost to Replace an HVAC System in 2024?

Replacing your HVAC system is a significant investment for any homeowner, but understanding the costs involved can help alleviate concerns and uncertainties. Whether you opt for an AC and gas furnace system, a total electric system, or a heat pump system, the key factors influencing replacement costs include the size of your home, the type of system, brand quality, efficiency, and installation complexity. 

While the average price range for HVAC replacement may vary based on these factors, there are opportunities to save money through tax, utility, and manufacturer rebates, as well as long-term energy savings. By considering these factors and exploring available incentives, homeowners can make informed decisions that not only enhance their comfort but also optimize their budget in the long run. 

Ultimately, investing in a new HVAC system is an investment in the comfort, efficiency, and value of your home, ensuring that you and your family can enjoy optimal indoor comfort year-round. 

About Yarbrough & Sons Heating, Cooling & Plumbing: Yarbrough & Sons has been serving Oklahoma City since 1988, providing top-notch home comfort solutions. With over 450 years of combined experience, our family-owned business is dedicated to quality, comfort, and caring for our community. Trust us for all your HVAC needs.