Well pump replacement cost: pricing & installation

Many homeowners don't have the convenience of city-supplied water pipes. Instead, they rely on water well pumps and pressure tanks to obtain water from underground. When equipment fails, you need to replace it quickly to ensure an adequate supply of water for drinking, bathing, and other essential household uses, such as laundry, dishwashing, and handwashing. 

Here's how much the average water well pump replacement costs, the factors that impact the cost to replace a well pump and pressure tank, and how to pay for them.

Average well pump replacement cost

The cost to replace a well pump varies considerably depending on where you live, the size and model of pump you need, and other factors. Well pump prices installed cost between $973 and $2,822, depending on the type of well pump and its size. On average, you can expect to spend about $1,900 to replace your well pump.

When replacing a water pump, the type of equipment can dramatically impact the overall cost of the project. For example, there are submersible pumps, jet pumps, shallow well pumps, pressure switches, and other specialty equipment. The type of pump equipment you need depends on your water pressure, plumbing system, and other factors, including whether you want the equipment to be stainless steel or made out of another material.

If you need to replace the pressure tank as well, you'll pay an additional $500 on average. Pressure tanks typically cost between $300 and $700, but the price can go up to $2,500 for harder-to-reach installations. When choosing tank size, keep in mind that you'll pay between $10 and $15 per gallon.

Well pump prices installed

Most homeowners choose to have their well pump and pressure tank replaced by a professional. Since getting a pump installed doesn’t happen very often, you may not be familiar with installation procedures or local building codes.

Install costs for a well pump range between $250 and $1,000. However, your cost to replace a well pump and pressure tank may vary based on where you live and the specifics of the installation. 

While installation adds to the overall cost of the job, having a licensed professional install your well pump provides peace of mind that may also include a warranty on labor and materials.

Factors that affect well pump cost

Pump installation costs can vary based on a variety of factors. Here are the most common factors that affect how much the repair or replacement will cost:

• Type and size of the pump. Different equipment is required for each type of well. The size of the pump may vary based on the well depth and preferred water pressure.
• Well depth. If your well is deeper, it may cost more to replace the pump.
• Quality of materials. You can save money by buying a cheaper unit, but it may break down more frequently. Higher-quality equipment tends to cost more upfront, but typically has a longer lifespan.
• Energy efficiency. Having a more efficient unit can reduce your electric bill.
• Local labor rates. Labor rates to install the water pump and pressure tank vary based on local wages and related costs.
• Additional components. Each well pump replacement job is unique and may incur additional costs, including the installation of extra wiring or plumbing to bring your unit up to local codes.

DIY vs. professional replacement costs

If you’re handy with tools or are willing to learn, you can save money on your well pump replacement costs. Learning a new skill can also lead to a side hustle where you can earn money selling your services to neighbors or others in your local community.

Keep in mind that you may need to buy additional tools to complete the job, which can reduce the savings from doing it yourself versus hiring a professional. 

Additionally, you may be in over your head if problems pop up during the repairs, which can lead to higher costs overall if you need to hire a professional in an emergency.

How to pay for well pump costs

With average well pump prices installed of $1,900, some homeowners often look to finance these repairs with affordable monthly payments. Here are five ways to pay for well pump and pressure tank replacement costs.

Credit card

Using a credit card to cover the cost to replace a well pump can be a smart option—particularly if the pump is your only expense, you don’t have other major maintenance needs, and you’re confident you can pay it back. 

With a rewards card, you can earn points, miles, or cash back on the purchase. And if you open a new card, you may be able to take advantage of a special intro APR offer for up to 21 months, which can help keep costs low. 

Just be sure you have a plan to pay off the balance before the promotional period ends. Otherwise, you could end up paying high interest charges or accumulating expensive credit card debt.

Personal loan

Personal loans for home improvement are short- to medium-term loans—typically repaid over one to seven years—that you can use to cover the cost of replacing a well pump and pressure tank. 

These loans may be unsecured or secured, but both usually come with fixed interest rates and predictable monthly payments. Unsecured loans rely heavily on your income and credit score, while secured loans use collateral to help you qualify for a lower rate. 

However, once you factor in interest and any origination fees, be sure the total cost of the loan doesn’t end up significantly increasing what you pay for the project.

Home equity financing

Home equity financing lets homeowners tap the value they’ve built in their property and typically offers more flexible repayment options and longer terms than other borrowing methods. Because these tools come with closing costs and fees, they’re often most strategic when you need to cover multiple expenses or work toward several goals at once—like handling additional home repairs, funding improvements, consolidating debt, or supporting small business needs.

It's important to note that since your home serves as collateral, failing to repay the loan could put you at risk of foreclosure. It’s important to have a strong repayment plan when exploring home equity tools. 

Home equity loan: A home equity loan allows you to borrow a lump sum against the equity in your home. These loans come with fixed interest rates—typically more competitive than personal loans and credit cards—and predictable monthly payments throughout the term.

To qualify, homeowners generally need a credit score of at least 620, sufficient income, and enough available equity.

Home equity line of credit (HELOC): HELOCs are flexible lines of credit that only charge interest on the money you use. The bank sets a maximum credit line, and you can withdraw and repay the money as often as you like during the draw period, usually 10 years. 

The interest rate is variable, and you’re only charged interest on your monthly average balance. At the end of the draw period, your balance is converted into an amortizing loan with a fixed interest rate and monthly payment. Homeowners generally need a good to great credit score and sufficient income to qualify. 

Home equity investment: A home equity investment (HEI) is a way to tap your home equity for a lump-sum payout without added monthly payments.  Instead of monthly payments, you’ll share part of your home’s future price appreciation (change in value, not total home value) when you decide to settle. 

You can settle the investment by refinancing the home, a home sale, or using another source of funds — anytime during a flexible 30-year term. You'll need a credit score above 500 and sufficient equity; there are no income requirements.

The bottom line

When your well pump equipment fails, you need to fix it quickly. Knowing the average cost to replace a well pump and pressure tank helps you compare quotes and how much money you'll need. The actual costs vary based on the size and type of equipment, installation particulars, and whether you DIY or hire a professional. There are many ways to cover these costs, including tapping your home equity, getting a personal loan, or charging it to your credit card.