How Much Does a Lennox Furnace Unit Cost? (2023 Guide)

With over 125 years of experience, Lennox has positioned itself as a leader in HVAC equipment manufacturing. The company provides high-efficiency oil and gas furnaces as well as air conditioning equipment, mini-splits and heat pumps.

On average, you can expect to pay between $2,900 and $8,300 for a Lennox furnace. The typical cost will fall around $5,600, but your actual price will vary based on your home. In this guide, we’ll discuss the average cost of a Lennox furnace, as well as key factors that affect your pricing.

HVAC Installation

In general, you can expect to pay between $5,540 to $10,980 per HVAC unit, installation costs, and removal of your old unit.

Get Free Estimates

Furnace Replacement

In general, you can expect to pay between $4,000 and $7,000 including installation, old furnace removal, and labor.

Get Free Estimates

Heat Pump Installation

In general, you can expect to pay between $3,000 and $35,000, but most homeowners spend between $5,800 and $7,500.

Get Free Estimates

What Is the Cost of a Lennox Furnace?

While the typical cost for a Lennox furnace will come in around $5,600, there are quite a few factors to consider that can affect the price you’ll pay. These include the specific model you pick, its efficiency rating, and the cost of labor in your area.

We’ll discuss some of these and some of the other pricing factors for your Lennox furnace in the following sections.

Lennox Furnace Cost by Model

Lennox carries an impressive array of furnaces, currently totaling 17 models. The company focuses on gas furnaces, so 15 of the 17 are fueled by natural gas. Only two of the available furnace options use oil as the fuel.

The price you’ll pay for a furnace depends heavily on the model you choose. Each model has its own combination of size and efficiency rating. Larger and more efficient units typically are higher in cost.

The table below includes a quick breakdown of the furnace models available from Lennox and how they compare in terms of efficiency and total cost.

Rating:

Best Company Reputation

5/5

Get Quote

Connect with a Local Installer Near You!

How Much Does Lennox Furnace Cost Vs. Competitors?

The cost of Lennox furnaces is on par with prices from other well-known furnace brands. However, Lennox furnaces are considered to be of higher quality and typically deliver higher efficiency ratings, which can save you money over time. The table below includes a side-by-side look at how Lennox furnace costs compare to what you can expect to pay for similar equipment from competitors.

Which Factors Impact Lennox Furnace Costs?

As you can guess from the wide price range of Lennox furnaces, an array of factors influence what your heating equipment will cost. In the following sections, we’ll discuss some of the more significant considerations affecting pricing.

Unit Size

Perhaps most importantly, the size of your system and the property size for which it’s rated will play a major role in your equipment cost. Your system will need to be sized appropriately for your home’s square footage as well as its degree of energy efficiency. The larger your home, the larger a furnace you’ll need – and the more you’ll pay.

When you’re ready to replace your furnace, a reputable HVAC company will be able to figure out what size you need and, consequently, how size will affect your equipment cost.

Efficiency Rating

Furnaces all come with an efficiency rating, usually relying on the Annual Fuel Utilization Efficiency (AFUE) system. This is a measurement of what percentage of the fuel you feed into your furnace is actually converted to heat and what percentage is wasted. All furnaces have some fuel waste, but newer, premium models from Lennox have been able to hit up to 99% efficiency.

With all other factors equal, higher-efficiency furnaces will always cost more up front. They may require additional insulation to reduce heat lost to the surrounding area or a second heat exchanger to use exhaust gas to reclaim heat for your home. These additional components will naturally push your equipment price up. However, higher efficiency ratings will save you money on fuel costs over time, and they’re better for the environment.

You can use the ranges below as a rule of thumb for determining how efficient your furnace is:

• Low-Efficiency: 56-70% AFUE
• Medium-Efficiency: 80%-83% AFUE
• High-Efficiency: 90% or higher AFUE

Installation and Labor

The bulk of your furnace installation or replacement cost will come from the equipment itself, but you’ll also need to consider the labor to install it. Every company charges differently for labor, so your installation costs can vary based on the installer you choose.

If your system is in a particularly tight spot — like in a crowded utility room or in an attic or crawlspace — then your installer may charge a bit more based on the time it takes to do the work. Keep in mind that the above figures we’ve provided include the labor charges, so the ranges offered are based partially on how much your installer charges.

Maintenance and Repair

If you’re not installing a new furnace from Lennox and instead need repairs or maintenance, you can expect to pay between $100 and $1,200, and sometimes more, depending on the work that’s required.

Just as an example, if you need to replace a blower motor, you could pay upwards of $2,000 for the parts and labor. If you just need a minor repair on a heat exchanger, you’re probably looking at between $100 and $200. The extent of the work needed and any replacement equipment required will be the driving forces in determining your repair costs.

Location and Climate

Your geographical location and the climate in your area will, somewhat surprisingly, play a role in your furnace replacement costs. Areas with a higher cost of living typically see higher equipment and labor costs as well, which can push your total up toward the higher end for your particular Lennox furnace model.

The climate can play a role in long-term costs as well. If you live in an area that sees long, frigid winters, more strain will be put on your system year after year, which will shorten its lifespan. Your initial investment in a furnace might be similar to what someone in a warmer climate will pay, but you should expect to have to replace it sooner, which drives up costs over time.

Additionally, some colder areas will demand a more powerful furnace to provide adequate heat. Since larger, more capable models almost always cost more, you might end up paying more than someone in a warmer climate who needs a less powerful system to heat their home.

Additional Features

You might need to consider additional features you want to promote comfort and energy efficiency in your home as well. We’ll include some of the features you can get with Lennox furnaces below:

• Variable Speed Blowers: Some Lennox furnaces are variable speed, which means you can control the speed at which warm air flows into your living space. This is great for maximum comfort, stable temperatures, and higher efficiency.
• Ultra-Low Emissions: Some products from Lennox are labeled as “ultra-low emissions,” which means they generate up to 65% less nitrous oxide and nitrous dioxide — commonly referred to as NOx — than other furnaces. Lower emissions mean safer operation and less negative impact on the environment. Depending on where you live, labels like the ultra-low emissions one can sometimes help you get better energy efficiency rebates.
• iComfort: iComfort is how some Lennox furnaces interact with smart thermostats. It means they can adapt to your family’s heating demands and lifestyle to maintain maximum comfort and improve energy savings.

How To Save on Lennox Furnace Costs

While Lennox furnaces are around average in price compared to products from other manufacturers like Goodman, Trane, and Rheem, they’re still a significant expense to purchase, run, and maintain. There are a few things you can do to reduce your up-front costs and your long-term expenses with your Lennox furnace, including:

• Get Multiple Quotes: One of the best ways to save money on the initial purchase of your HVAC system is to get a few quotes from different installation companies. Shopping around can lead to hundreds of dollars in savings on labor costs, and some installers might even be able to offer discounts on certain Lennox products.
• Perform Preventative Maintenance: Furnaces experience a lot of wear and tear, especially if you live in a cold climate. Over time, continuous use can reduce your equipment’s lifespan, not to mention its efficiency. A great way to prevent both of these issues is to perform routine maintenance. Simple things like changing your air filters, cleaning your HVAC ductwork, and scheduling at least annual maintenance with an HVAC technician will help keep your system working as intended for longer, saving you money over time.
• Take Energy Efficiency Rebates and Credits: Some states, cities and utility companies offer tax credits or rebates for improving your home’s energy efficiency. In some cases, rebates for high-efficiency furnaces like the ones from Lennox can save you hundreds of dollars. Make sure to check the Database of State Incentives for Renewables and Efficiency for rebates available in your area. You can also check directly with your state, city, town or county, or utility companies.
• Buy a High-Efficiency Model: Choosing a high-efficiency furnace will usually cost a bit more up front, but it will end up saving you money in most cases. The higher the rating, the less of your fuel will go to waste. Over the decades of life you’ll get out of your system, the cost of that wasted fuel can easily exceed whatever you save initially by buying a lower-efficiency unit. Plus, high efficiency means less strain on the environment, which is another major benefit. Thankfully, Lennox has products with industry-leading efficiency ratings of up to 99%.
• Choose a Gas Furnace: Finally, you can save money in the long run by choosing a gas furnace over an oil furnace. Prices for the oil furnaces offered by Lennox are cheaper than most of the gas furnace prices, but oil is significantly more expensive than gas. Over time, you’ll likely end up paying more by heating your home with oil than you would by investing in a higher-efficiency gas furnace. Not to mention that oil furnaces are less efficient overall, which means it costs more to provide the same heat even at similar fuel prices.

So, Are Lennox Furnaces Worth the Cost?

Lennox furnace prices are around average, but the company’s products are more efficient than most competitors’ products. This makes Lennox a great company to choose for your home heating needs. Lennox furnaces are available across the U.S. from over 6,000 third-party Lennox dealers as well, so most homeowners will have access to Lennox products.

Additionally, Lennox’s products are built to last and come with some of the best warranty coverage in the industry. Its wide range of furnace models are some of the best candidates for providing comfortable heating for your home.

If you buy a Lennox furnace, you will likely need a professional HVAC company to install it.