Comparison 8 min read Updated 2026-02-01

Heat Pump vs Furnace: Which Costs Less?

Compare heat pumps and furnaces for home heating. Installation costs, operating costs, efficiency, and climate considerations.

Quick Comparison

FactorGas FurnaceHeat Pump
Install Cost$3,000-$7,000$5,000-$12,000
Operating Cost$500-$1,500/year$400-$1,000/year
Efficiency80-98% AFUE200-400% COP
Lifespan15-20 years12-15 years
Heats & CoolsHeat onlyBoth
Best ClimateCold (below 30°F)Mild to moderate
Bottom Line: Heat pumps save 30-50% on operating costs in moderate climates. Furnaces are better for very cold climates (consistently below 30°F).

How They Work

Gas Furnace

  • Burns natural gas to create heat
  • Blows heated air through ductwork
  • 80-98% of fuel becomes heat
  • Only provides heating (needs separate AC)

Heat Pump

  • Moves heat from outside to inside (even in cold weather)
  • Works like AC in reverse
  • 2-4x more efficient than furnaces (300%+ effective efficiency)
  • Provides both heating AND cooling
  • Struggles below 30-40°F (requires backup heat)

Why Heat Pumps Are More Efficient

Furnaces create heat by burning fuel. Heat pumps move existing heat from outside air. Moving heat takes less energy than creating it—that's why heat pumps can be 300-400% efficient (3-4 units of heat per unit of electricity).

Cost Comparison

Installation Costs

Gas Furnace + Central AC:
  • Furnace: $3,000-$7,000
  • Central AC: $3,000-$7,000
  • Total: $6,000-$14,000
Heat Pump System:
  • Heat pump: $5,000-$12,000
  • May need backup heat: $500-$2,000
  • Total: $5,500-$14,000

Annual Operating Costs (2,000 sq ft home)

Moderate Climate (Atlanta, Dallas):
  • Gas furnace + AC: $1,800-$2,500/year
  • Heat pump: $1,200-$1,800/year
  • Savings: $600-$700/year
Cold Climate (Chicago, Boston):
  • Gas furnace + AC: $2,000-$3,000/year
  • Heat pump with backup: $1,800-$2,800/year
  • Savings: $200-$400/year

15-Year Total Cost of Ownership

Moderate Climate:
  • Furnace + AC: $30,000-$45,000
  • Heat pump: $22,000-$35,000
  • Heat pump saves: $8,000-$10,000
Cold Climate:
  • Furnace + AC: $36,000-$52,000
  • Heat pump: $32,000-$48,000
  • Heat pump saves: $4,000-$6,000

Climate Guide

Heat Pump Recommended

Climate Zones 2-4 (mostly mild winters)
  • Southeast (FL, GA, SC, NC, TN)
  • Southwest (AZ, NM, TX, NV)
  • Pacific Coast (CA, OR, WA)
  • South Atlantic
Average winter temps above 35°F: Heat pumps work great year-round.

Furnace or Dual-Fuel Recommended

Climate Zones 5-7 (cold winters)
  • Northeast (NY, MA, PA, etc.)
  • Upper Midwest (MN, WI, MI)
  • Mountain States (CO, MT, WY)
  • Northern Plains
Average winter temps below 30°F for extended periods: Furnace more economical, or use dual-fuel system.

Dual-Fuel: Best of Both Worlds

A dual-fuel system combines:
  • Heat pump for moderate temps (above 35°F)
  • Gas furnace for coldest days (below 35°F)
  • Automatically switches for optimal efficiency
  • Higher install cost but lowest operating cost

Which Should You Choose?

Choose a Heat Pump If:

  • You live in a moderate climate
  • You want both heating and cooling in one system
  • You want lowest operating costs
  • You prefer electric over gas
  • You're eligible for heat pump tax credits
  • Environmental impact matters to you

Choose a Furnace If:

  • You live where temps regularly drop below 30°F
  • You have access to cheap natural gas
  • Your home already has a furnace and ductwork
  • You only need heating (already have good AC)

Consider Dual-Fuel If:

  • You're in a climate zone that gets occasional very cold spells
  • You want both efficiency and reliability
  • You can afford higher initial investment

Next Steps

Use our calculators for accurate estimates:

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