Hot water heaters with storage tanks are the most standard and least expensive models, taking both installation and purchase price into account. The top tank heaters are brands like Bradford White, A.O. Smith, Rudd, and Rheem. These brands are mainly sold to plumbers and builders or through independent retailers, not in big-box stores.

If price is not a determining factor but unlimited hot water and energy efficiency are, the Vertex series from A.O. Smith is the recommended gas tank model. This uses a condenser and is viewed as even better than a tankless water heater because it features a lower installation cost but offers the same features. Plumbers note the speed at which a Vertex heats water.

When an existing water heater is being replaced, it is least expensive to pick out a model that uses the same type of fuel. This reduces installation price and can streamline the installation process. The purchase and installation prices of natural gas heaters are higher however these models are more energy-efficient. Heating water with a gas model costs about one-third the price of using an electric version.

Modern hot water heaters are more efficient than older models however they'll take up a lot of space. Consumers should measure the available space before they have the new water heater delivered. A 40-gallon tank is right for two people but a 50-gallon model is more suitable for a family with three or four people. Experts suggest installing two water heaters if the master bath is not close to the other bathrooms.

The best tank hot water heaters feature thermal expansion tanks that provide extra hot water with somewhere to go. This reduces wear on the plumbing system and the main water tank. Some municipal codes require a thermal expansion tank with new water heater installation. Regardless, adding one can prolong the life of the water heater.