It's the middle of winter in Minnesota and your furnace has died on a particularly cold night. You call your HVAC technician the next morning and they tell you that repairing your furnace just isn't worth it. Now, you need to replace your furnace entirely. Your first question will probably be, "How much will it cost to replace my furnace?"
The answer is dependent on a few different factors. Read on to learn what those factors are and how much you can expect to spend for a furnace replacement in Minnesota
3 Factors That Determine the Cost of Furnace Replacement
- Type of Fuel - The cost of replacing your furnace in Minnesota will be largely dependent on whether it runs on gas, oil, propane or electricity. Electric furnaces tend to be the cheapest, with the total cost for the unit and replacement generally falling in the $1,000 to $3,000 range. Propane furnaces are about twice as expensive on average, with a propane furnace replacement usually costing $3,000 to $6,000. Gas and oil furnaces are pricier still, with the cost of replacement for these types of furnaces running anywhere from $4,000 up to $10,000, and sometimes even more.
- Size of House - The larger your home in Minnesota, the larger the furnace you'll need to keep it warm and toasty in the winter. For a 1,000 sq. ft. home, you'll probably be able to keep it warm with a $500 to $2,000 furnace, plus the cost of labor for replacement. By contrast, you'll need a furnace that costs an average of $1,000 to $2,500 to keep a 2,000 sq. foot home warm. And if your home is 3,000 sq. ft. or more, expect to spend at least $1,200 and possibly over $5,000 for the unit alone.
- Furnace Efficiency - You may have heard of "high-efficiency" furnaces before. In case you weren't aware, a high-efficiency furnace is one that converts at least 90% of its energy into heat. Most electric furnaces are high-efficiency furnaces, while units that run on gas, oil or propane may be either high-efficiency or fall into the standard efficiency range of 80-89% energy conversion. High-efficiency furnaces tend to cost almost twice as much as standard furnaces. However, because they use their energy more efficiently, these furnaces may actually save you money in the long run.
Looking for a New Furnace in MN?
Now that you have a better understanding of what will determine the cost of a new furnace for your home, are you ready to buy? Contact Airic's Heating & Air Conditioning, Inc. today if you're looking for furnace replacement services in the Twin Cities metro area!