HVAC Facts and Helpful Statistics
It’s easy to take for granted the heating and cooling systems that regulate our homes. Our dependence on heating, ventilation, and air conditioning (HVAC) systems to create a comfortable atmosphere is even more apparent in the sweltering summer heat or the bitter chill of winter.
We analyzed data from Energy Star, the National Aeronautics and Space Administration (NASA), the National Oceanic and Atmospheric Administration (NOAA), the Office of Energy Efficiency & Renewable Energy (EERE), the U.S. Energy Information Administration (EIA), and the U.S. Bureau of Labor Statistics (BLS) to discover critical HVAC facts and helpful statistics. Our analysis uncovered the cost of HVAC installation and repair, ways you can maintain your HVAC system, and home heating and cooling industry trends.
With winter coming, it’s not a bad idea to add shopping for the best home warranty for HVAC systems to your to-do list. A home warranty can offer peace of mind in seasons when you frequently rely on your HVAC system in case of breakdowns.
Key Findings
- HVAC installation typically costs between $2,500 and $8,000, and your system can last up to 15–20 years with proper maintenance.
- Replacing air filters, investing in a smart thermostat, and hiring an experienced HVAC technician help maintain your home’s heating and cooling systems.
- Three million HVAC units are replaced annually, and $14 billion is spent on HVAC services and repairs every year.
- The HVAC industry is expected to grow 7.4% through 2030.
- In 2020, nearly 90% of U.S. households had AC units installed.
What is an HVAC?
- A heating, ventilation, and air conditioning (HVAC) system regulates a home’s temperature, humidity, and air quality to create a comfortable interior environment. A thermostat controls the HVAC system and tells it to increase the temperature (heating), circulate air (ventilation), or decrease the temperature (air conditioning).
Cost of HVAC Installation and Repair
The cost of installing an HVAC system ranges from $2,500–$8,000, and most systems can last up to 15–20 years when properly maintained. Several factors, including your home’s size, the type and efficiency of the HVAC unit you select, and its compatibility with the existing ductwork, influence HVAC installation and replacement costs. Optimizing each of these factors—i.e., by trading the hefty installation cost of an energy-efficient furnace for long-term utility bill savings—can help steer you toward a more informed purchasing decision.
Despite the valuable benefits of an optimal HVAC system, the upfront investment required may not be feasible for some homeowners. In some cases, purchasing a portable or window air conditioner for $100–$150 can make more financial sense than spending thousands of dollars on installing a full-blown air conditioning system. Instead of spending up to $20,000 on a heat pump, homeowners can save money by opting for a ductless mini-split that starts at $2,000—and doesn’t require any costly ductwork modification or installation.
| Installation | Cost |
|---|---|
| HVAC | $2,500–$8,000 |
| Air conditioner | $3,880–$7,910 |
| Furnace | $2,000–$10,000 |
| Heat pump | $2,000–$20,000 |
HVAC repairs typically cost you less than a replacement, but there are exceptions. For example, furnace repairs range from $2,600–$6,200, but installing a brand-new furnace can set you back anywhere from $2,000–$10,000. If the repairs require a financial investment similar to the cost of replacing your existing furnace with a newer unit, it’s wise to consider replacement—a new unit means you won’t be paying for costly repairs now and a replacement down the line.
| Repair | Cost |
|---|---|
| TXV/TEV | $100–$500 |
| Circuit board | $100–$600 |
| Fan motor | $200–$700 |
| Evaporator coil | $400–$1,000 |
| Condenser coil | $500–$1,500 |
| Ductwork | $500–$2,000 |
| Compressor | $750–$2,000 |
| Furnace | $2,600–$6,200 |
When comparing HVAC repair and replacement costs, don’t overlook your long-term homeownership goals regarding your current home. Will you stay in that home for the foreseeable future, or do your plans include moving within the next three to five years? These decisions can significantly influence how much you’re willing to invest in your home’s HVAC system, regardless of whether you’re paying for repairs or replacing individual components.
Cost data in this section was sourced via Angi and HomeGuide.
How To Maintain Your HVAC Unit
Routine HVAC system maintenance ensures optimal and efficient performance, minimizing costly repairs or replacements and prolonging the system’s lifespan. Identifying an unusual increase in your utility bill can help you react to a potential problem with your HVAC system. However, basic maintenance enables you to proactively address issues before they become inconvenient—and expensive.
Inspect and Replace Filters
Energy Star advises changing the filters in your air conditioner, furnace, and heat pump every three months. Check these filters monthly and replace them sooner if necessary. Keep the area around the HVAC unit clean to ensure optimal airflow.
Modernize Your Thermostat
Replacing your existing thermostat with a smart variant allows you to automate the management of your HVAC system’s settings. Instead of setting the thermostat back a few degrees when you leave or go to sleep, you can program the smart thermostat to automatically adjust the temperature based on your habits. Controlling your HVAC system remotely also offers peace of mind—especially if the appropriate settings slipped your mind during the holiday rush.
Seal Air Leaks
According to Energy Star, roughly 20–30% of the air circulating through your HVAC system can escape through poorly sealed connections. Closing up those leaks with mastic sealant or metal tape can improve your HVAC system’s efficiency and reduce your utility bills. Insulating air ducts in unfinished portions of your home—like the attic, crawlspace, or basement—can also contribute to greater efficiency.
Hire a Professional
If you don’t feel comfortable servicing your home’s HVAC system, a certified HVAC technician can use their industry knowledge and expertise to ensure it’s in working order. As they inspect your HVAC system, they’ll check gas and electrical connections, verify chemical levels—like air conditioner refrigerant—and replace air filters. If you plan on hiring a professional HVAC technician, we recommend scheduling a tune-up outside of the busy summer and winter months to ensure timely maintenance.
Consider HVAC System Replacement
If your home’s HVAC system is more than a decade old, consider a complete replacement. The energy efficiency and reliability you gain with newer HVAC components can outweigh the initial investment. Depending on where you live, replacing your aging heating and cooling system can save you nearly $140 annually, per Energy Star.
Home Heating and Cooling Trends
From June through August, HVAC systems work the hardest, increasing the chances of a breakdown. Homeowners must keep up with HVAC maintenance, especially during the hot summer months—which are only getting hotter. Summer 2024 was the hottest summer on record for the entire globe since the 1880s, according to NASA:
- Temperatures in the summer of 2024 were 2.25 degrees Fahrenheit hotter than the average summer between 1951 and 1980.
- August 2024 was 2.34 degrees Fahrenheit hotter than the average summer.
- By a narrow margin, summer 2024 set a new global temperature record—approximately 0.2 degrees Fahrenheit—that was previously set in summer 2023
Winter Weather Patterns
Do rising global summer temperatures indicate warmer winters? According to NOAA, the La Niña weather pattern we’ll experience from this January through March will bring warmer, drier weather to the South, Northeast and Eastern Seaboard and northern parts of Alaska. As winter 2025 gets into full swing, the Great Lakes, North, and Pacific Northwest regions can expect more precipitation.
HVAC Replacement and Usage
Three million heating and cooling systems are replaced annually in the U.S., and $14 billion is spent on HVAC services and repairs every year, according to EERE. Per the EIA, nearly 90% of U.S. households had AC installed in 2020. AC usage was highest in the South (93%) and the Midwest (92%) Census Regions. According to the EIA, newer homes were more likely to use AC among all climate regions.
HVAC Industry
The HVAC industry was valued at an estimated $30.41 billion in 2023, according to Grand View Research. In addition to a projected annual growth rate of 7.4% through 2030, the HVAC industry exhibits the following trends:
- Heat pump equipment comprised 47.3% of the industry’s market share in 2023.
- The HVAC market is expected to hit $32.46 billion in 2024 and grow to $49.70 billion by 2030.
- Global warming, the demand for energy efficiency, and a thriving real estate market continue to drive growth.
- Consumers often rely on rebates and tax deductions to offset the costs of HVAC installation.
HVAC Workforce
An HVAC installer, mechanic, or technician made a $27.55 per hour median wage and $57,300 annual median wage in May 2023, according to the BLS. While most HVAC technicians hold a trade certificate or license, some enter the workforce to gain on-the-job experience. The BLS forecasts a 9% job growth rate—much faster than average—over the next decade.
FAQ About HVAC
What does HVAC stand for?
HVAC stands for heating, ventilation, and cooling. This acronym describes the systems in commercial and residential buildings that regulate temperature and humidity.
How long is HVAC school?
Most HVAC programs at a local trade school or community college last between six months and two years, according to the BLS.
What are the different types of HVAC systems?
Heating, ventilation, and air conditioning systems all fall under the HVAC umbrella. Specific systems include your furnace or heat pump, air conditioning unit, and the ductwork necessary to ventilate your home.
Is it cheaper to cool or heat a house?
It’s cheaper to cool a house than to heat it. It costs more to heat your house than any other HVAC system in your home, according to the U.S. Department of Energy. The cost of heating your home makes up 29% of your utility bill on average.
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