Oil Furnace Costs by Brand
| Oil Furnace Brands | Oil Furnace Unit Costs | Oil Furnace Installation Costs |
| Armstrong | $1,260 | $4,565 |
| Ducane | $1,325 | $5,415 |
| Rheem | $1,665 | $5,400 |
| Olsen | $1,625 | $5,422 |
What is the average cost of an oil furnace?
The average oil furnace costs between $500 and $2,500 for the unit alone. Prices of a new oil furnace will change with size, brand, and energy efficiency. Oil burning furnaces at that price point can heat a house that is around 2400 square feet or less. Larger homes will require larger oil furnaces in the $3,200 to $4,200 range.
How much oil should a home furnace use per month?
- Buy high quality fuel oil. Oil which is low in sulfur and/or contains 5% to 20% of biofuel will burn more efficiently and extend your furnace’s life.
- Strict maintenance. Annual check-ups are a must. ...
- Smart thermostats. Although not quite cheap, they can help you use your fuel smarter. ...
- Cash on Delivery (COD) instead a fuel contract. ...
What is the best oil furnace?
The Best Oil Furnaces 2020
- Thermo Pride Highboy Oil Furnaces – Best Highboy. These oil furnaces were second in our list last year. ...
- Adams Lowboy Oil Furnaces – Best Lowboy. These units are made in a wide range of outputs for homes, very large homes and commercial use. ...
- Bryant Preferred Series Oil Furnaces – Best Options. ...
- Miller Oil Furnaces – Best for Mobile Homes. ...
How much is the average furnace replacement cost?
The average cost to replace a furnace runs from $2,000 to $7,000 depending on the type you go with and where you live. In extreme cases, you can spend upwards of $40,000 or more, especially for geothermal models. There are a lot of brands to choose from, and it's important to do your research before choosing which is best for you.
How much does it cost to replace an oil furnace in a house?
Average cost: $2,245 - $7,450 Prices of a new oil furnace will change with size, brand, and energy efficiency. Oil burning furnaces at that price point can heat a house that is around 2400 square feet or less. Larger homes will require larger oil furnaces in the $3,200 to $4,200 range.
How long does a oil furnace usually last?
between 15 and 20 yearsYour furnace is older than 15 years Most home furnaces last between 15 and 20 years. As heating equipment gets older, it tends to heat your home less efficiently. If your furnace is nearing this age, you may want to consider replacement.
Are oil furnaces expensive to run?
On average, oil heating prices are 2.5 to 5.5 times lower than electric-based heating prices, and older gas furnaces can be much more expensive to run than oil-based systems.
How much is a new oil furnace for a 2000 square foot home?
The average cost range for an oil furnace replacement is between $5,000 and $9,000, with most people paying around $6,000 for a 90% AFUE oil furnace installed in a 2,000sq. ft. home with a new oil line and tank. This project's low cost is $3,500 for a direct replacement of a standard furnace with minimal adjustments.
Should I replace my 25 year old oil furnace?
Age of your Furnace If your furnace is pushing 25 years or more, it's probably nearing the end of it's effective lifespan. However, as already mentioned, this shouldn't be the end-all-be-all in the decision. You might choose to replace a 15 year old furnace, or it could last more than 30 years.
How much does it cost to replace an oil burner?
A new oil furnace costs $2,500 to $6,000 to replace on average. Oil furnace prices are $1,200 to $4,000 for the oil burner, plus $1,000 to $3,000 for installation labor. Operating costs to run a forced-air oil furnace are $80 to $145 monthly.
Is it worth buying a house with oil heat?
In summary, oil heat is a safe, cost-effective fuel for heating your home. If you are choosing between propane or heating oil, heating oil wins out all day long. If you have the option for natural gas, then we would recommend considering it.
What are the disadvantages of oil heating?
The drawbacks of oil heating:Higher long-term costs – for the foreseeable future, heating oil costs more than natural gas. ... Requires additives – to keep your boiler running as efficiently as possible, you will need to mix heating oil additives into your supply.More items...•
What is cheaper to heat a house gas or oil?
Heating oil prices are not “more expensive” than natural gas When you factor in the high cost of converting a heating system to natural gas along with the 15%-25% increase in price of a natural gas furnace compared to heating oil furnaces, home heating oil is an economical option.
When should you replace your oil furnace?
THE LIFESPAN OF AN OIL TANK Indoor tanks have an estimated lifespan of 25 years. Since the early 80s, the manufacture date has been marked on the tank. If this information does not appear on your tank, it is definitely time to replace it.
What size furnace do I need for a 1500 square-foot home?
A 1,500-square-foot home will require between 45,000 to 90,000 BTUs. A 1,800-square-foot home will require between 55,000 to 110,000 BTUs. A 2,100-square-foot home will require between 65,000 to 125,000 BTUs.
Are new oil furnaces more efficient?
Furnace Efficiency Most new oil furnaces have AFUE ratings between 80% and 90%, while their gas counterparts boast ratings between 89% and 98%. Although gas furnaces are more efficient than oil furnaces, that efficiency comes at a price—gas units are typically priced 10% to 25% higher than the same size oil furnace.
What is oil burning furnace?
Oil burning furnace installation is a niche type of furnace compared to other types of HVAC systems. When hiring an oil furnace contractor there are a few things you can do to make the process easier on yourself: Ask for several bids from local oil furnace installers in order to get the best prices.
What happens if you don't buy an oil furnace?
When purchasing an oil furnace, there are two things that should be presented to you. First, the dealer or contractor should provide you with a purchase agreement.
Do oil furnaces run on oil?
You might be thinking that oil furnaces only run on oil but there are also hybrid models that use a heat pump creating a dual fuel system that can be installed in your home.
Do you need to use duct tape to seal a furnace?
Inspect that duct connections are sealed. There should be no duct tape used to seal duct connections. Ensure the unit is mounted on rubber pads. Oil furnaces installed in a basement should be placed on blocks allowing several inches above flooring.
Is an oil furnace quiet?
They are also ultra-quiet much like an electric furnace unit which adds to the total comfort of your home. Oil furnaces provide a reliable heat source and this is especially helpful for homes that may not have access to other fuel options such as gas or propane furnaces.
How much does it cost to replace an oil furnace?
How Much Does an Oil Furnace Cost? Replacing an old oil-fired furnace with a new one typically costs $2,000-$5,000 for a simple installation of a basic model, but it can cost $6,000-$10,000 or more for a larger, more energy-efficient unit with a difficult installation, such as a complex floor plan or hard-to-reach ductwork.
How long is an oil furnace good for?
Oil furnaces are relatively durable and reliable; they typically come with a 10-year warranty, and many homeowners report 15-20 or more years of service. Disadvantages are that the fuel must be delivered to and stored on the premises, and an annual furnace tune-up ($70-$200) is required to prevent leaks and decreased efficiency.
How much does it cost to replace a chimney liner?
Replacing an old oil-fired furnace with a higher-efficiency model may require installing a new chimney liner for $700-$1,800.
How much does it cost to remove an old fuel oil tank?
Removing an old fuel oil tank can cost $500-$3,000 or more, depending on local rates and the tank's size, condition and accessibility. Older ductwork might contain asbestos, creating unpredictable additional costs for asbestos removal. Discounts:
Is it necessary to replace an oil furnace?
Replacement might not be necessary. The Environmental Protection Agency lists ways to retrofit an oil-fired furnace [ 2] to extend the life of the unit by improving performance and energy-efficiency. It might be possible to get a low-cost loan, rebate or tax credit for installing an energy-efficient furnace.
How much does it cost to install an oil furnace?
The average cost range for an oil furnace installation is between $5,000 and $9,000, with most people paying around $6,000 for a 90% AFUE oil furnace installed in a 2,000sq.ft. home with a new oil line and tank.
How does a furnace cost?
Upgrading to a more efficient furnace increases your costs for the unit and installation because efficient furnaces condense as they heat, meaning that they need a drain to prevent flooding when the furnace runs.
How much does an oil furnace cost for a mobile home?
Expect the average mobile home oil furnace to have starting costs of around $1,500. Keep in mind that not as many brands produce oil furnaces for this use, and you may find more options with natural gas, propane, or electric furnaces.
How much does a gas furnace cost?
Gas furnaces cost about the same, approximately $6,000 for a high-efficiency unit. The real benefit of using a gas furnace is the lower cost of heating your home.
How much does it cost to heat a home with a gas furnace?
The real benefit of using a gas furnace is the lower cost of heating your home. Heating with gas costs around $540 a year , as opposed to the $1,400 a year that it costs to heat with oil. Gas furnaces are generally cleaner and do not require as much maintenance.
How efficient is an oil furnace?
Oil furnaces are typically not very efficient. They use less fuel than other furnace types, but most do not achieve an efficiency greater than 90%. A few high-end brands have an efficiency of 95% by using a condenser. These are more expensive, having starting costs for the furnace itself at around $5,000. You pay more for the installation as well because a drain needs to be installed.
How long do oil furnaces last?
Oil furnace costs vary depending on the brand. Standard brands tend to cost less and are rated for 15 - 18 years, while premium brands last up to 25 years, have better energy efficiency, and cost more. The following are some of the common brands frequently installed:
Where are oil furnaces most common?
Oil furnace are primarily limited to the Northeastern US where bedrock conditions make gas pipelines impractical. While this is not true 100% of the time, oil furnaces are much more popular and widespread in that area.
What are the performance features of an oil furnace?
Performance Features – Basic models have single-speed or multispeed fans. Better furnaces have variable speed fans that improve comfort control. If the fan is an ECM blower, the furnace will cost more but the blower will use less power to operate. Just a few oil furnaces have two-stage burners.
How long is a furnace warranty?
In general, better oil furnaces have a 10-year parts warranty and a 20-year or lifetime heat exchanger warranty. Some brands will replace the entire furnace if the heat exchanger fails in the first 5 or 10 years.
How much does it cost to rent an oil tank?
Most oil suppliers offer free tank rental if you buy a minimum amount of heating oil with installation. It’s usually 225 to 400 gallons depending on the size of the tank. Buying an oil tank costs up to $750, but when you own your tank, you can shop around to all suppliers for the best oil prices.
Can you replace a gas furnace with an oil furnace?
In short, if you currently have a gas furnace and/or access to affordable natural gas or propane, it is not recommended that you replace it with an oil system. This Costimate is your comprehensive source for oil furnace replacement cost and the factors that affect cost.
Does installing a furnace void the warranty?
Unless you’re a licensed HVAC technician, installing your own furnace will probably void the warranty. Trane’s oil furnace warranty is a clear example: “The Products must be properly installed, operated, and maintained by a licensed HVAC service provider… Failure to conform to such specifications and/or instructions shall void this limited warranty.”
How long does it take to save money on an oil furnace?
Oil Furnace running costs. Believe it or not, a more expensive boiler can actually save you money in running costs in as little as 5 – 10 years. It really is a case of making a good investment now and earning (well, saving) dividends in the future.
How long should an oil furnace last?
Buying the right oil furnace is key to keep your home warm and money in your pocket. An oil furnace should last between 15 and 25 years, depending on the brand and usage. Some lucky people can keep them running for even longer.
How much oil does a 90 afue furnace use?
A 90 AFUE oil furnace would burn 584 gallons of oil. As you can see, the 90 AFUR saves approximately 49 gallons of oil a year, whilst producing the same amount of heat. Based on an approximate residential heating oil price of $2.90 per gallon, that’s a saving of $141 a year. Over the year this can quickly add up:
What is the AFUE rating of an oil furnace?
The AFUE rating measures an oil furnace’s efficiency in converting fuel (oil) into energy. An oil furnace that has an AFUE rating of 85 means that it’s 85% efficient in converting oil into energy, leaving a 15% loss. The minimal efficiency for a new oil furnace is 83%, which most oil furnaces hitting between 85 and 90%.
How many hours does an oil furnace run?
If we presume that your home uses the oil furnace for 5 hours a day over 6 months of the year, that totals 910 hours of running time a year. (If you live in a much warmer climate (or much cooler) the months of usage will clearly differ) We know that 1 gallon of oil holds approximately 138,500 BTU of energy, therefore:
How much inefficiency is an 85 AFUE furnace?
In financial terms, an AFUE 85 oil furnace translates to a 15 cents inefficiency loss on each dollar you spend.. although it’s worth noting that no furnace of any fuel type is 100% efficient. The key takeaway is: the higher the AFUE, the more efficient the furnace is, the more money you’ll save heating your home.
How many heat exchangers does an oil furnace have?
Oil furnaces typically just have one heat exchanger. This means when the oil is burnt in the combustion chamber, the exhaust gases generally go to waste. There are a couple of oil furnaces that have two heat exchangers, however, these tend to become a maintenance nightmare so I wouldn’t really recommend them.
How Much Does Oil Furnace Replacement Cost?
Modernize says the average cost of installing a new oil furnace is about $4,850. This includes the oil furnace price and the furnace installation cost. The actual cost will depend on the brand you choose and the size of the furnace.
How Long Does an Oil Furnace Last?
A good oil furnace can be expected to last 15 to 20 years. However, just because a furnace is still working, it doesn't mean it's necessarily worth keeping. If you have the budget for an upgrade, it's worth considering the replacement cost and the energy efficiency rating of the furnace you currently have.
How Much More Efficient Are New Oil Furnaces?
Oil furnace replacement comes with a high price tag, so is it worth spending money on one? In many cases, the answer is yes.
Do I Have Other Options?
As long as you’re in the market for a new furnace, you may want to look at alternative fuel options. In general, propane gas furnaces are more efficient than even the newest oil furnaces. However, comparing the costs of propane, oil and natural gas for heating can be difficult because of the way the fuels are priced.
How Can I Decide Which Fuel Is the Best for My Home?
Trying to decide whether to get a new oil furnace or go for a gas option? You should ask yourself a few questions:
How Much Will a Gas Operated Furnace Cost?
You will be surprised to know that gas-fired furnaces cost a lot less than those that operate on oil. A basic standard-efficiency furnace that runs on natural gas will cost you anything between $1500 and $3000. Whereas those that run on oil costs as much as $8000.
How Much Will a Gas Furnace Hookup Cost?
When it comes to hooking up a gas furnace, you have to consider the cost involved in running an underground pipe to your house from the gas main. You will need to dig a trench from the road to your house, where you will also install a meter. This will cost you approximately $1000-$1500.
Other Costs Involved
Aside from the cost of the unit itself, you may also need to put in an additional $800-$2000 to line your chimney. This has been done since the moisture in the gas exhaust could ruin your masonry. However, this is a cost that you will incur only once. Including labor, you would not spend over $10,000 to $12,000 on a new gas furnace installation.
