Water heaters are home appliances that we do not change often. Ordinarily, we rarely think of even servicing them, unless the need specifically arises. However, if yours has been serving you loyally for more than the period of warranty, then it is time to consider getting a new electric hot water tank.

Read on to find out about the top three cheap electric storage tank water heaters in the market. A 40-gallon hot water tank can comfortably provide hot water for a family of 2 to 4 people. To provide enough hot water for bathing, running the dishwasher and for a load of laundry every day, which would be ideal.

Kenmore 58640
Costing about $290, the Kenmore 58640 40-gallon electric water heater with a cobalt blue glass-lined tank and anode rod that helps prevent corrosion is the cheapest one available. With a self-cleaning cold water inlet tube that swirls the water to prolong the life of the tank and maintain energy efficiency by discouraging lime build-up, this also includes 3 inches of energy-efficient foam insulation to prevent heat loss. There are two 4500 watt heating elements, and the tank and its parts have a 6-year limited warranty.

Rheem Performance
At about $334, the Rheem Performance 40 gallon electric medium water heater is an easy to maintain option.

Westinghouse Residential Electric Water Heater
At $669, the Westinghouse Residential Electric Water Heater combines high-quality 316L stainless steel construction that resists corrosion and ensures energy efficient operations. Requiring a 240-Volt electrical connection for installation, a clever design, durable components, low standby heat losses, high recovery rates, and the industry’s strongest lifetime warranty makes this an ideal choice.