How Much Does A Propane Tank Cost?
How Much Does A Propane Tank Cost?
A propane tank for a house costs between $400 and $700 for a 100-gallon tank and $1,200 to $1,800 for a 500-gallon above-ground tank. The cost to install an underground propane tank runs $1,600 to $2,400 for a 500-gallon tank and $3,100 to $4,500 for a 1000-gallon tank.
$600 – $2,500 average cost
A propane tank for a house costs between $400 and $700 for a 100-gallon tank and $1,200 to $1,800 for a 500-gallon above-ground tank. The cost to install an underground propane tank runs $1,600 to $2,400 for a 500-gallon tank and $3,100 to $4,500 for a 1000-gallon tank.
Propane Tank Cost
The cost to install a propane tank for a house ranges from $700 to $4,500 installed, but on average, expect to pay about $1,500 to install a 500-gallon above-ground propane tank and $2,000 for a 500-gallon underground tank. Prices depend on the size of the house, how much of the home is gas-powered, and the climate, if heating is included.
For small grilling and auxiliary propane tanks, expect to spend between $50 and $150. A standard 20 lb. tank costs around $35, while a larger 100 lb. tank costs about $150.
| National Average Cost | $1,400 |
| Minimum Cost | $35 |
| Maximum Cost | $4,500 |
| Average Range | $600 to $2,500 |
Propane Tank Prices By Size
To estimate the cost of a propane tank for your home, you will need to decide how big your tank needs to be. Most tanks can be installed either above or below ground.
Gallon Propane Tank Costs
A 120- to 325-gallon tank will take care of powering heating, cooking, fireplace, dryer, and standard hot water. However, you might want to spread out the number of times you refill it, in which case a 500-gallon tank would be more practical, only needing a refill every six months. Multi-zoned homes and homes with a hot tub and jacuzzi require a considerably larger tank.
| Tank Sizes | Above-Ground Tank | Underground Tank |
|---|---|---|
| 100 Gallon | $380 – $650 | -- |
| 120 Gallon | $630 – $700 | -- |
| 250 Gallon | $1,200 | -- |
| 330 Gallon | $1,400 | -- |
| 500 Gallon | $1,630 – $1,700 | $1,870 |
| 1,000 Gallon | $2,500 – $2,580 | $2,850 |
Average Prices By Pound
| Tank Weight | Suitable for | Capacity when filled to 80% | Tank Price |
|---|---|---|---|
| 100 lb. | Home fireplaces, cooking, dryers, barbecues | 25 gallons | $150 |
| 420 lb. | Home heating or hot water, dryers, fireplaces, generators, pool heat | 100 gallons | $700 |
| 500 lb. | Small whole-home systems, home heating, generators, pool heat | 400 gallons | $1,500 |
| 1,000 lb. | Large whole-home or small business systems, home heating, generators, pool heat | 800 gallons | $2,500 |
Price for Large Propane Tanks
The price to buy a large propane tank averages $1,500 for a 500-gallon tank and $2,500 for a 1000-gallon tank. A 500-gallon tank is ideal for residential use. Propane tanks larger than 500-gallons will require permanent underground installation in most cases.
Larger tanks are required for people who need to use around 5,000 gallons or more of propane per year—usually large business or farms, who can use it for farming tasks like corn drying. Ranging from 2,000- to 30,000-gallon tanks, costs vary from $11,000 to $80,000. Common large tank sizes are 2,000 to 18,000 gallons. 30,000-gallon tanks can power a small, sub-metered community.
Cost of Small Propane Tanks for Grills
For small grilling and auxiliary propane tanks, expect to spend $35 to $150 for an empty shell. A standard 20 lb. tank costs around $35 while a larger 100 lb. tank costs about $150. These small cylinder tanks are perfect if you need to power an outdoor grill or backup generator. There are specials for buying an extra tank at the exchanges too.
| Capacity (Lbs.) | Cost Empty |
|---|---|
| 4.25 | $50 |
| 11 | $50 – $60 |
| 20 | $35 |
| 30 | $50 – $70 |
| 40 | $90 – $100 |
| 100 | $140 – $165 |
Small Propane Tank Sizes
Propane tank sizes can be confusing, being measured in pounds, gallons, and capacity. There are single use and refillable portable tanks. The smaller tanks or cylinders are as follows:
| Capacity | Weight Empty | Weight Full |
|---|---|---|
| 4.7 gal | 18 lbs. | 38 lbs. |
| 7.1 gal | 24 lbs. | 54 lbs. |
| 9.4 gal | 29 lbs. | 70 lbs. |
| 11.4 gal | 42 lbs. | 92 lbs. |
| 23.6 gal | 68 lbs. | 170 lbs. |
Cost to rent a propane tank
Renting a propane tank costs $50 to $200 per year, depending on the size, location, and supplier. Leasing a propane tank typically includes free installation and repairs but requires a minimum annual propane-usage amount. Plus, refills must come from the same company, often at higher propane rates.
| Tank size | Yearly cost |
|---|---|
| 250-gallon | $50 – $75 |
| 500-gallon | $60 – $180 |
| 1,000-gallon | $90 – $200 |
The top companies that lease propane tanks are:
AmeriGas
Ferrellgas
Suburban Propane
Some propane leasing companies have a minimum order of 100 gallons.
Costs of Propane Tanks for the Home
If you only need to run a few home appliances, a 250-gallon propane tank costs $1,200 installed.
To power all systems in your home, a 500-gallon tank will cost $1,500 to $2,000 installed.
For a larger home, you may prefer the extra storage of a 1000-gallon tank for a cost of $3,100 to $4,500 installed.
Underground Buried Propane Tank Cost
An underground and buried propane tank costs $1,100 and $5,200 with most homeowners spending $1,900 for a 500-gallon tank or $4,400 to install a 1,000-gallon tank. Tanks that are 250 gallons or larger can be installed underground, with 500- to 1,000-gallon tanks being the most common.
Excavation and Trenching Labor Cost
Aside from the cost of the actual tank, there is the fee for the licensed installer, the installation package, and the excavating team. Working hours for the excavation team are extra at about $500–$600, starting with $95 for the first 30 min +$75/man/hour.
Reasons To Install Your Propane Tank Underground
You are in a geographical location with extreme weather, especially deep freezing. When underground, the tank is surrounded by earth, thus helping to keep the temperature steady.
Underground propane tanks are safer when it comes to potential damages like propane leaks since the leak will be more contained by the soil. Propane is harmless to your water and the environment, but it is combustible.
You’d rather have it out of sight. An underground tank can have landscaping surrounding the cap where the gauges and other controls are.
Sometimes, an underground tank can raise the value of the property.
Above-Ground Propane Tank Price
Above-ground propane tank prices are $700 to $2,500 on average, depending on the tank size, the amount of gas it holds, and whether it’s new, empty, used, or full.
Above-ground propane tank prices are $400 for a 100-gallon tank, $1,200 for a 250-gallon tank, $1,500 for a 500-gallon tank, and approximately $3,100 for a 1,000-gallon tank.
An above-ground propane tank is recommended if your property is located in an area with frequent flooding. There can be a problem with an underground tank “floating", causing the tank to shift or float if the water rises above the propane level in the tank.
Propane Prices Per Gallon
Propane prices range from $2.50 to $2.75 per gallon when looking at the past few years, but the cost fluctuates often due to supply, demand, and production levels.
Propane Cost Per Pound
While no one sells propane by the pound, you can expect to pay $0.65 to $0.70 per pound. Our calculation is based on a gallon weighing ~ 4 lb.
Propane Usage Estimator
If you are wondering how much propane a furnace or other appliances use, we've compiled a usage estimator for you:
| Appliance | Fuel Used |
|---|---|
| Furnace | 1 gallon/hour |
| Fireplace | 1 gallon/3 hours |
| Water Heater | 1 gallon/day |
| Hot Tub | 4 gallons/hour |
| Cooktop | 5 gallons/month |
| Dryer | 5 gallons/month |
Should I Buy Or Lease A Propane Tank?
Buying New vs. Used Propane Tanks
Refurbished tanks have all new valves and has been blasted and repainted.
Used Tanks have no safety guarantee. Smaller tanks for sale from tank exchange services often come with gas in them. All used tanks must be certified before being put to work.
A company in three states, THRIFTY PROPANE, offers a comparison of new and refurbished propane tanks for sale:
| Tank Sizes | Used Price | Cost New | Cost New Underground Tank |
|---|---|---|---|
| 1,000 gallon | $1,850 | $2,500 | $3,000 |
| 500 gallon | $950 | $1,700 | $2,000 |
| 330 gallon | $800 | $1,400 | – |
| 250 gallon | $650 | $1,200 | – |
| 120 gallon vertical | $550 | $700 | – |
| 120 gallon horizontal | $450 | None | – |
Purchasing Full vs. Empty
Larger tanks are sold empty by law. Grill-size tanks, often called cylinders, are usually bought full.
Local Propane Tank Prices and Companies
For your local propane companies, we encourage looking at reviews here on HomeGuide and Google. Online quotes are often unsubstantiated, which is why you must call to get pricing.
Also, the National Propane Gas Association will provide referrals to many smaller companies that sell and install propane tanks by zip code.
What You Need To Know About Propane Tanks
Capacity – Any tank will only be filled to 80% capacity. Thus a 100-gal tank will be full at only 80 gallons. This safety precaution is to leave room for the expansion of the gas with warmth. New tanks come with an overfill protection device.
Propane tank recertification – The National Fire Protection Association (NFPA) and the DOT require periodic recertification of stationary propane cylinders by qualified service technicians. Recertification costs $40 to $60 and must be done on any cylinder under 100 lb. twelve years from the date of manufacture and every five years following.
Local building codes – Underground tanks must be installed at least 10 feet away from any traffic, building, or property line.
Cold start issues – Propane performs well in cold weather climates because the fuel mixture (propane and air) is completely gaseous. This factor allows propane-powered vehicles and equipment to avoid many cold-start issues associated with using liquid fuels.
Propane Tank FAQs
How do Blue Rhino vs. AmeriGas tank prices compare?
Blue Rhino is likely to be found at Home Depot while AmeriGas can be located at Lowe’s and Walmart, and both companies offer tanks at the same prices. AmeriGas also has the bulk of the propane delivery business, and their prices vary based on the individual account.
Is it better to purchase or rent a tank?
Buying a propane tank for your home gives you the freedom to purchase propane from the supplier of choice. It also leaves you responsible for all maintenance and certifications. Renting relieves one of the risks of breakdowns but restricts you to a single supplier.
If you plan on using the tank long term, buying it and doing yearly maintenance is a cheaper option because you get to take it with you if you move. Without the maintenance, leaks can cause you to lose money on lost propane.
How to tell how much propane your tank has left
Your home propane storage tank will have a gauge showing the percentage your tank is full. With smaller, portable tanks used for grilling, RVs, and even smokers, you can weigh the tank, deducting the empty weight of the tank. A simpler method is to take a small bucket of warm water and pour it over the side of the tank. Run your hand from top to bottom, and you will feel where the coldness of the propane starts—that will show you how much is left.
What is the price of actual propane/cost to refill your tank?
The actual price of propane is tied to crude oil prices. Many U-Haul locations and pay-at-the-pump options price it at $2.40 to $3.70 per gallon. A tractor supply company may have the lowest price, with no differentiation for use. Commonly, they will only fill up to 100 gallons.
Should I exchange or refill my old tank?
One consideration for refilling would be the potential savings, but saving up to $2 per gallon may be offset by the inconvenience of finding an open filling station. The advantage of exchanging the tank is getting one which is certified and properly serviced.
How much does propane tank recertification cost?
Propane tank recertification costs approximately $40 to Â60. Recertification must be done on any cylinder under 100 lb. twelve years from the date of manufacture, and every five years following.
What is the difference between propane and liquid propane?
Liquid propane is synonymous with propane. When one sees LPG, it could be propane or not. While propane is a liquified petroleum gas (hydrocarbon gas liquified through pressurization), so are butane, isobutane, and mixtures of them.