Lennox Furnace Prices - What is a Fair Price?

Lennox Furnace Prices - What is a Fair Price?

Lennox furnace prices can vary greatly, based on your location, the brand chosen, and a variety of other factors.  In fact, we get asked a lot about furnace prices, so we started this series of articles in which we will take an in-depth look at the factors that affect the cost of purchasing a new furnace.  Today we will discuss Lennox furnace prices.  Those of you who have read our articles, know that we are a small, U.S. Veteran-Owned heating and air conditioning company based in Southern California, and we have built our reputation on giving straight, honest answers to people’s questions.  So, what is a fair price for a Lennox furnace?  The real answer is, it depends – it depends on a lot, actually.  Today, we will discuss the Lennox furnace price value index (i.e. is it worth the money?), the actual prices of some popular Lennox furnaces, and the average Lennox furnace cost of installation.



Lennox Furnace Prices – A Bit About Lennox Furnaces

Lennox furnace prices - Energy Star

Look, we are straight shooters, and Lennox furnace prices aren’t really a topic you can be biased on.  In fact, Lennox’s official stance is that they do not list their prices; contact a dealer (Lennox Furnace Prices).  This, however, is common across all major brands.  I will tell you that I am not the biggest fan of Lennox furnaces, or any of their other equipment, for that matter.  Why?  Three reasons:

  1. Lennox has poor customer service – a furnace lasts 20-30 years, and we really don’t like giving our customers a product from a company that they might have trouble with years down the road.
  2. Lennox has a horrible logistics chain – if you live in California, no big deal.  If you live in Michigan, and your Lennox furnace dies on you in the dead of winter – BIG DEAL.  Lennox is completely proprietary, so you have to go through them to get parts, the parts are three times as expensive, and they often take weeks to get in stock due to poor logistics.  So, when compared to a competitor like Trane Furnaces, or Carrier, where we can have your furnace repaired the same day, which would you choose?
  3. They are overpricedLennox furnaces cost 40-75% more than some of their competitors…and I’m not talking no-name brands, I’m talking Bryant, Goodman, etc.

We are, however, licensed to install and repair all major brands, including Lennox, so we have no loyalty towards any one brand.  As such, it is important to understand that our opinions of Lennox are based on years of experience dealing with them, and the feedback we receive from our customers.  Of course, you obviously have your heart set on a Lennox furnace, or you wouldn’t be researching Lennox furnace prices, so enough said.  Let’s move on.

Before purchasing a new furnace, consider troubleshooting the furnace you already have:

Lennox Furnace Price Value Index

I know that all of you are here to see exactly what a Lennox furnace will cost, but hold on a second.  What exactly is a price; that is to say, what does the price tell you?  Nice things cost money, right?  So before we get into the numbers, let’s take an in-depth look at what the Lennox furnace prices actually tell us as a consumer (or in my case, a contractor)…in other words, is there an adequate value in Lennox furnaces that justifies their higher price?

At All Systems Mechanical, we have crunched the numbers, and developed a price-value index for directly comparing furnaces and air conditioners to their competitors.  This index is based on a variety of factors, including Lennox furnace price by location within the United States, AFUE ratings for furnaces (higher efficiency furnaces cost more, but how does the increase in price compare between different brands?  i.e. Does Carrier increase their price by 20% for a 96% AFUE furnace, while Lennox furnace prices increase by 50% for the comparable model?), wholesale prices (what we – the contractors – actually pay for the equipment), and the average prices of installation.  We then compare them to other major furnace brands to see where they break out.  Let’s take a look at how Lennox did:

The Results: Lennox Furnace Price-Value Index

Lennox furnace prices, to be expected, break out as the highest in the industry, competing mainly with Carrier and Trane.  Let’s take a look at the Lennox furnace price index:

Lennox Furnace Price Value Scale

Lennox Furnace Price Value Scale – Index 1.55

Lennox Furnace Price-Value Index Analysis

So, the million-dollar question…what the hell does all of this mean?  What this means is that, when compared to their competitors, Lennox furnace prices break out significantly higher than other brands, but that they also do not offer a comparable return on their price.  For instance, a Porsche 911 costs two or three times as much as a Ford Mustang, but it is faster, performs better, and most would say it is overall a nicer car.  The price, if you can afford it (which I, sadly, cannot), is justified.  But imagine if a Chevy Camaro was twice the price of a Ford Mustang?  Is that justified?  Of course not – because they are comparable cars.  A Porsche and a Ford are completely different; one is a street-legal race car, and one is a muscle car.  Make sense?

If you look at the Lennox furnace price-value index, it is 1.55, with 1.0 being considered a fair price for the value received.  What this tells me is that Lennox offers the same or comparable technology as their competitors (i.e. no game-changing innovations), but charges you significantly more for their equipment.  In other words, you are paying for a name.

If you are interested in learning about other brands (some with better values), here are some good articles to start:

More about Lennox furnaces can be viewed in:

Lennox furnace price listLennox Furnace Prices – The Numbers

“But Tim…I don’t care about price-value indexes…I want to pay for a Porsche 911, but get a Ford Mustang!”

                                                                                           …said no one, ever.

But, since I promised to be nice and not grumpy (as my wife would say), we will now discuss Lennox furnace prices for some of their major models.  Please keep in mind, that there are literally hundreds of different variations to choose from in the Lennox furnace model line-up.

Think about it, for each and every model and AFUE rating, they have 4-6 different sizes (rated in BTU’s) to choose from.  So, it would be impossible to list every single model, size and price in this article.  Besides, they update so often, that the price would be obsolete in two months.  So, here are a few of the more popular Lennox furnace models, along with their prices.

1. Lennox Merit Series, ML180, 80% AFUE, Single-Stage Gas Furnace – 70,000 BTU Size

Wholesale Lennox Furnace Price: $632.00

If you just had a heart attack, I’m sorry.  I know that a lot of sites list prices much higher than this – I’m sorry, but it just isn’t so.  If you are a Lennox dealer, this is the actual price you will pay for a Lennox ML180, 80% AFUE, 70,000 BTU furnace.  Why do they say that they cost so much more?  Come on now, you know the answer to that.  Believe it, or not, this is still significantly more expensive than their competitors.

Lennox Merit Series, ML180 Features:

  • Single-Stage Operation – this is a fancy way of saying, “it has two settings: ON, and OFF.”
  • 80% AFUE – Annual Fuel Utilization Efficiency…think of this as kind of like the MPG rating of your car.  An 80% AFUE furnace will transfer 80% of its fuel into heating your house, and 20% will be wasted heat that goes up the exhaust flue.
  • 70,000 BTU – this furnace comes in a variety of sizes, each of which has a different price, but this is a common size in the lower 48.  How much square footage would this heat?  For that, we’d have to figure out a variety of things, including square footage, insulation, region, roof information, etc.

Lennox furnace prices - what's a fair price?2. Lennox Elite Series, EL 280, 80% AFUE, Two-Stage Gas Furnace – 70,000 BTU Size

Wholesale Lennox Furnace Price: $847.00

If your spouse keeps stroking out on the floor, keep a defibrillator handy.  This is a lot cheaper than you were quoted, I know, but that’s exactly why we started writing these articles.  For some reason, it’s a huge industry secret what contractors are actually paying for equipment.  We, on the other hand, have done quite well by being completely transparent.  Two sides of the same coin, I guess.  Here’s some info on the Lennox Elite, EL280 Furnace:

Lennox Elite Series, EL280 Features:

  • Two-Stage Operation – different from the single-stage operation, a two-stage furnace has a primary burner that burns when it is chilly out, and a secondary burner that can kick on when it’s really cold.
  • 80% AFUE – Annual Fuel Utilization Efficiency.
  • 70,000 BTU – that is the size of this particular furnace.

3. Lennox Merit Series, ML195, 95% AFUE, Single-Stage Gas Furnace – 70,000 BTU Size

Wholesale Lennox Furnace Price: $1,113.00

This furnace is significantly more efficient than the latter two models, translating 95% of its fuel directly into heating your house.  Why, you might ask, wouldn’t everyone want a higher AFUE furnace?  The answer is simple…price and necessity.  If you live up north in Bozeman, Montana, then you need at least a 90% AFUE furnace as a minimum, but in Los Angeles, California, an 80% AFUE furnace is more than enough.

Lennox Merit Series, ML195 Features:

  • Single-Stage Operation
  • 95% AFUE – Annual Fuel Utilization Efficiency.
  • 70,000 BTU – size, aka heating ability.

Don’t Overpay for Your New Lennox Furnace; Watch This Short Video:




Lennox Furnace Prices – Lennox Cost of Installation

So, we’ve spent a little time looking at the prices of some of the more popular Lennox models and sizes, now let’s discuss how much these things will cost to install.  Remember, that labor prices will vary based on your region, so this will be an average Lennox furnace installation cost.  Some things to keep in mind are that it is often times advantageous to install your new furnace in the off-season, which up north (where it is cold) is in the summer, and in the southern states, is in the spring and fall.  This will give you the most leverage to get a fair price, as contractors won’t be busy, and will be looking for work.

Average Cost of a Furnace Installation:

Lennox Furnace Cost of Average Installation Graph

Average Cost of a Furnace Installation

According to data pulled by Homeadvisor (Furnace Installation Prices), the national average cost of a furnace installation is around $3,920, with a typical price range of between $2,300 and $5,600.  However, this is a national average, across all makes and models.  It does not account for price differentiation between brands such as Lennox or Carrier, so keep that in mind.

Average Lennox Furnace Installation Cost

When you account for price differentiation between brands (as we had to in order to create our Lennox furnace price value index), the price goes up significantly, approaching the high-range on the graph above.  According to input and data collected from Lennox customers, as well as Lennox contractors across the country, this is a more accurate number to base your Lennox furnace prices on:

  • The average Lennox furnace cost of installation is: $5,617.00.
  • The average Lennox furnace price of installation is 43% more expensive than the national average.

If it’s seriously time for a new furnace, you might want to take some time and read:

Don’t Overpay for Your New Lennox Furnace


Final Thoughts on Lennox Furnace Prices

Lennox furnace prices are the most expensive in the market.  If a contractor is quoting you a different, more expensive price for a different brand, then they are either: 1. ripping you off, or 2. run their business less efficiently than their competitors, requiring them to charge more.  In the end, I honestly don’t feel that Lennox furnace prices are warranted; they just don’t present an adequate value to justify the higher prices than their competitors.  This, of course, is just my opinion – you are the one who has to decide which furnace you’d like best.

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Timothy Kautz
About the author
Tim K.

The University of Virginia - 2005 / The Wharton School of Finance - 2016 / U.S. Naval Aviator 2005-2015. At All Systems Mechanical air conditioning and heating, we believe that the experience our clients have is every bit as important as the products they receive. Simply put, our results speak for themselves, and we'd be happy to help. If you're in the market for a new AC or furnace, make sure that you get a fair price! Try our online calculator; click the tab on the top of this page for more information.

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