A heat pump heats and cools in one system and is usually the single biggest lever on a home energy bill.
Every price on this page is for whole-home air-source heat pump system, installed, compiled from public cost data across all 51 markets we track and refreshed for 2026.
Heat Pump Cost at a Glance (2026)
| Installed cost range (all states) | $5,550–$22,900 |
|---|---|
| Typical installed cost (average state) | $11,209 |
| Typical yearly energy savings | $791 a year (state range $645–$880) |
| Simple payback at the typical cost | about 14.2 years |
| Expected lifespan | 15 years |
Where the Money Goes
| Cost part | Share | At the typical cost |
|---|---|---|
| Equipment & materials | 52% | $5,829 |
| Labor & installation | 40% | $4,484 |
| Permits & other | 8% | $896 |
What Affects the Price
- System size in tons — a 2-ton system for a small home costs far less than the 4-5 ton systems larger homes need.
- Ductwork condition: reusing sound ducts keeps you near the low end; repairing, resizing or adding ducts adds thousands.
- Cold-climate rating: models rated to hold capacity below 5 deg F cost more up front but protect your savings in northern states.
- What it replaces: displacing oil, propane or electric-resistance heat usually means extra electrical work and removing old equipment.
- Electrical panel capacity: many heat pump installs need a panel or circuit upgrade, which can add $500-$2,500.
When Heat Pump Makes Sense
A heat pump makes the most sense when your existing furnace, boiler or AC is 12+ years old, or when you heat with oil, propane or electric baseboards — the fuels a heat pump undercuts most easily. It is also the right call when both heating and cooling need replacing anyway, because one system does both jobs. In moderate and cold climates, choose a cold-climate model sized from a proper load calculation (Manual J), not from the size of the system it replaces.
When It Pays to Wait
Waiting can be smarter if your current system is under 8 years old and running efficiently on low-cost natural gas — the savings may be too thin to justify early replacement. Also wait and weatherize first if your home is very drafty: insulating and air sealing first can let you buy a smaller, cheaper heat pump. Finally, check rebate funding calendars: several state programs step amounts down over time, but a few reset each program year.
Estimate Your Payback
Enter your own quote and savings estimate to see your simple payback:
Payback Calculator
Heat Pump Cost by State
- Heat Pump Cost in Alaska (2026 Guide): Prices, Savings & Rebates — $8,650–$20,600
- Heat Pump Cost in Delaware (2026 Guide): Prices, Savings & Rebates — $6,900–$16,500
- Heat Pump Cost in Hawaii (2026 Guide): Prices, Savings & Rebates — $9,600–$22,900
- Heat Pump Cost in Idaho (2026 Guide): Prices, Savings & Rebates — $6,250–$14,900
- Heat Pump Cost in Illinois (2026): Prices, Rebates up to $1,400 & Payback — $7,150–$17,100
- Heat Pump Cost in Massachusetts (2026): Prices, Rebates up to $16,000 & Payback — $8,150–$19,500
- Heat Pump Cost in Maine (2026): Prices, Rebates up to $3,000 & Payback — $6,650–$15,900
- Heat Pump Cost in Michigan (2026 Guide): Prices, Savings & Rebates — $6,550–$15,650
- Heat Pump Cost in Montana (2026 Guide): Prices, Savings & Rebates — $6,100–$14,500
- Heat Pump Cost in North Dakota (2026 Guide): Prices, Savings & Rebates — $6,100–$14,500
- Heat Pump Cost in Nebraska (2026 Guide): Prices, Savings & Rebates — $5,850–$13,900
- Heat Pump Cost in New Hampshire (2026 Guide): Prices, Savings & Rebates — $6,800–$16,250
- Heat Pump Cost in New Mexico (2026 Guide): Prices, Savings & Rebates — $6,000–$14,300
- Heat Pump Cost in New York (2026): Prices, Rebates up to $12,000 & Payback — $8,250–$19,650
- Heat Pump Cost in Rhode Island (2026 Guide): Prices, Savings & Rebates — $7,350–$17,500
- Heat Pump Cost in South Dakota (2026 Guide): Prices, Savings & Rebates — $5,650–$13,550
- Heat Pump Cost in Vermont (2026): Prices, Rebates up to $2,200 & Payback — $6,950–$16,500
- Heat Pump Cost in Wisconsin (2026 Guide): Prices, Savings & Rebates — $6,500–$15,450
- Heat Pump Cost in Wyoming (2026 Guide): Prices, Savings & Rebates — $5,800–$13,800
Coming soon: Alabama, Arkansas, Arizona, California, Colorado, Connecticut, Florida, Georgia, Iowa, Indiana, Kansas, Kentucky, Louisiana, Maryland, Minnesota, Missouri, Mississippi, North Carolina, New Jersey, Nevada, Ohio, Oklahoma, Oregon, Pennsylvania, South Carolina, Tennessee, Texas, Utah, Virginia, Washington, West Virginia, Washington DC. New state guides are published twice a day.
Figures compiled from public sources, updated October 2026. Local quotes vary — get 2–3 estimates.