On the other hand, geothermal heat pump systems are the most expensive, with average costs ranging from $10,000 to $35,000. Cheaper units may have lower efficiency ratings and may not include advanced features such as zoning capabilities or smart thermostats.

HVAC prices are rising throughout the US because of parts shortages. Parts shortages are because of global shutdowns and other issues. Those issues make manufacturing and shipping parts difficult, slow, and expensive. Homeowners should expect higher prices and delays on replacement parts.

Most air conditioners will last 15 to 20 years, though some may last closer to 10. In coastal areas, they typically last only seven to 12 years due to salt exposure. Both air conditioners and heat pumps are usually replaced when the compressor fails or the condenser develops significant corrosion and leaks.