Cost to Run a Tankless Electric Water Heater in New York
New York's average residential electricity rate is 29.9¢/kWh as of May 2026 — the 49th cheapest in the country, 63% above the U.S. average. At typical usage (0.7 hours/day), a tankless electric water heater here costs $115 per month.
Per hour
$5.38
at 13,000–27,000 W
Per day
$3.77
0.7 hours/day
Per month
$115
383 kWh
Per year
$1,375
4,599 kWh
By usage level in New York
| Usage | Per day | Per month | Per year |
|---|---|---|---|
| Light (0.5 hrs/day) | $1.88 | $57.26 | $688 |
| Typical (0.7 hrs/day) | $3.77 | $115 | $1,375 |
| Heavy (1.4 hrs/day) | $7.53 | $229 | $2,750 |
New York vs. the rest of the country
Monthly cost at typical usage.
Frequently asked questions
How much does it cost to run a tankless electric water heater in New York?
At New York's current average residential rate of 29.9¢/kWh (May 2026), a tankless electric water heater with typical usage costs about $3.77 per day, $115 per month, or $1,375 per year.
Is running a tankless electric water heater in New York more expensive than average?
Yes. New York's electricity costs about 63% more than the U.S. average, so the same usage costs $115 per month here versus $70.48 nationally.
What does electricity cost in New York right now?
New York residents pay an average of 29.9¢ per kWh as of May 2026 — the 49th cheapest rate of the 51 U.S. jurisdictions we track.