How Much Does a New Furnace Cost in 2021?

gas furnace

Winter has arrived in the Lubbock area and, while our winters are not terribly harsh, temperatures do plummet below freezing regularly. This means your home’s furnace becomes a key component in keeping you and your family warm and comfortable as the winter winds whip across the West Texas plains. So, what to do if your furnace starts acting up? Well, first you need to call your friends at Armstrong Plumbing, Air & Electric. Our reliable HVAC technicians can quickly diagnose any furnace issues and repair them if necessary. They will also be able to determine if a furnace replacement is needed and how soon. We can also help you with that difficult expense and guide you through the process every step of the way.


The average lifespan of a furnace can range anywhere from 10-25 years, depending on the make, model and maintenance. If your furnace is getting up there in years, and falls in that range, it may be time to replace it. The costs vary by type of furnace and how it’s properly installed:

  • Gas furnace. The most popular furnace, especially in harsh winter climates, these models average are a mid-range price point
  • Electric furnace. Usually cheaper than the gas furnace, but they usually require more energy to operate.
  • Oil furnace. The oldest type of furnace that is more expensive to purchase and install; not used as much anymore.


  1. Efficiency. Technology has come a long way in regards to HVAC equipment. Today’s equipment is sleeker and much more efficient. Furnace efficiency can be measured with a Fuel Utilization Efficiency Rating (AFUE). The higher the AFUE, the more efficient the unit is and the more it will cost you to purchase. The difference between a standard efficiency furnace and high efficiency model can be anywhere from $400 to $1,000 or more.
  2. Size. Bigger homes require bigger furnaces and they come with bigger price tags. HVAC contractors can perform a load test to determine the correct size needed for your home.
  3. Energy source. This may have the biggest financial impact in the long run. Electric furnaces are cheaper upfront, but their electricity usage can significantly increase energy bills. Gas furnaces cost a little more initially, but natural gas is much cheaper than electricity, making this model the preferred choice, especially in colder climates.
  4. Installation. Installation costs can vary depending on the fuel source, make, model and energy efficiency. Another cost factor is the ductwork: is it in good shape or are modifications needed? Average installation costs vary by company.


Armstrong Plumbing, Air & Electric is here to make your furnace purchase and installation as stress-free as possible. Contact Armstrong today to find out more about our Lennox and American Standard HVAC equipment and also about possible manufacturer’s rebates available for you! We also provide special financing to meet your budget and needs for your home. Something Wrong? Better Call Armstrong!