How Much Is a New Furnace in Toronto in 2026?

Planning a new furnace in 2026 and trying not to overpay? For a typical Toronto or GTA home,a high-efficiency natural gas furnace with standard installation is expected to cost about$4,300–$7,000+ HST in 2026. That estimate is based on:

• 2025 Canada-wide averages of $4,000–$6,750 installed for a new gas furnace.

• Toronto-specific averages around $4,900–$5,900 for a typical high-efficiency unit with standard installation.

• Ontario guides placing high-efficiency gas furnaces roughly in the $6,000–$9,500 band for top-end setups.

• For Saving’s own furnace replacement cost Greater Toronto 2025 price guide, which shows most GTA homeowners investing about $4,000–$6,750+ installed.

Answer Capsule – 2026 Furnace Cost in Toronto

• Typical 2026 range (Toronto & GTA): about $4,300–$7,000+ installed for a high-efficiency gas furnace in an average home.

• Entry / basic high-efficiency: roughly $4,300–$5,300 with a straightforward swap.

• Mid-range (two-stage / ECM): typically $4,800–$6,300, depending on brand and size.

• Premium (variable-speed / modulating): often $6,500–$8,000+, especially with extras (IAQ, smart controls, zoning, complex installs).

Before you sign any quote, call For Saving. In many cases, we can match or beat other furnace quotes in Toronto and the GTA with better installation quality, rebates, and package discounts.

2021–2026 Toronto Furnace Price Comparison (High-Efficiency Gas)

The table below shows a realistic view of how typical installed prices for a high-efficiency gas furnace in Toronto have moved from 2021 to 2025, plus a conservative forecast for 2026. 2021–2023 values are extrapolated from older Ontario/Torontodata; 2024–2025 anchor on current Canadian and Ontario market averages; 2026 assumes modest inflation and labour increases.

Year	Estimated typical price range (installed, Toronto)	Notes (high-efficiency natural gas, standard install)
2021	$3,500 – $5,500	Based on earlier Ontario averages for high-efficiency furnaces (about $2,500–$6,300, Toronto $2,500–$5,000) adjusted to 2021 pricing. Supply chain and labour costs were just starting to rise.
2022	$3,700 – $5,900	Material and freight spikes pushed many contractors to raise prices ~5–10% vs 2021, especially on mid-range and premium models. Entry-level systems stayed relatively close to 2021 levels.
2023	$3,900 – $6,200	Canada-wide averages for gas furnace replacement moved into the ~$4,000–$6,500 range. Toronto pricing sat within that band, with premium or complex installs trending higher.
2024	$4,000 – $6,500	Most Toronto quotes for high-efficiency furnaces and standard installs clustered in the mid-$4,000s to low-$6,000s, aligned with national averages around $4,000–$6,500.
2025 (current)	$4,000 – $6,750+	GTA guides now show typical ranges of about $4,000–$6,750+ for a high-efficiency gas furnace, with premium, complex, or bundled installs reaching $7,500–$8,000+. For Saving’s own furnace replacement cost Greater Toronto – 2025 price guide sits in this band.
2026 (forecast)	$4,300 – $7,000+	Forecast assumes ~3–4% annual inflation and continued wage pressure, plus more homeowners choosing high-efficiency two-stage or variable-speed models. With smart equipment selection, rebates, and honest labour rates, For Saving can often keep you closer to the $4,300–$5,500 band for standard replacements.

Important: These are typical ranges for a high-efficiency natural gas furnace in an average Toronto home, including standard installation. Conversions (oil/propane/electric to gas), major duct rework, zoning, or tight mechanical rooms can add significantly to the final price.

What Drives the Cost of a New Furnace in Toronto?

1. Home Size and Required BTUs

A compact semi in East York does not need the same furnace as a 3,000 sq. ft. detached in North York.Heat loss, insulation, window quality, and layout determine required BTU capacity. Oversizing can cause short cycling and uneven temperatures; under sizing can leave you cold on the coldest days.

2. Efficiency Level (AFUE)

• Standard high-efficiency (≈96% AFUE): the best value for most gas-heated Toronto homes.

• Ultra high-efficiency (97–99% AFUE): higher equipment cost; payback depends on gas rates and usage.

3. Staging and Blower Technology

• Single-stage: lowest upfront price; more noticeable temperature swings and slightly higher noise.

• Two-stage: a common GTA “sweet spot” – better comfort and quieter operation for a modest premium.

• Modulating / variable-speed: top comfort, quietest, and most efficient airflow; often $1,000–$2,000 more than entry-level systems.

4. Brand, Warranty, and Contractor Quality

Brands like Carrier, Lennox, Trane, Goodman, Keeprite, and American Standard are all installed across Toronto. But over the long term, installation quality and warranty support matter more than the logo. Lower quotes sometimes come from:

• Minimal or no combustion setup and gas pressure tuning.

• Vent sizing that just “barely passes” instead of performing well.

• Weak documentation, limited labour warranty, or no post-install checkup.

For Saving builds every quote around proper load calculations, commissioning, and clear documentation—so you know exactly what you’re getting for the price.

5. Installation Complexity

Your price will move upward if you need:

• New gas lines, vent re-routing, chimney liners, or additional shut-offs.

• Electrical panel upgrades or new dedicated circuits for the blower and controls.

• Return air sizing, extra supply runs, or ductwork repairs to meet code and comfort needs.

• Work in tight mechanical rooms or finished spaces that require extra labour and protection.

6. Rebates, Grants, and Promotions

Federal, provincial, municipal, and utility rebates change frequently. In some years, upgrading to a qualifyinghigh-efficiency system or bundling with a heat pump or insulation can offset hundreds to thousands of dollars.

• Ask for a quote that shows your net price after rebates, not just sticker price.

• Have For Saving check current GTA programs and calculate your true cost of ownership.

Where For Saving Sits vs the Toronto Market

Many 2025–2026 Toronto furnace quotes for a high-efficiency system land somewhere between $4,000 and $6,750,with premium and complex installs above that. For Saving’s own ranges in Furnace Replacement Cost Greater Toronto – 2025 Price Guide are aligned with this, but we focus on keeping you in the lower half of the market band whenever possible.

How we keep costs competitive while maintaining quality:

• Volume equipment pricing: more installs across Toronto, Markham, and Mississauga means better dealer pricing.

• Smart system matching: we size and specify equipment based on your actual load, not just “upselling” bigger units.

• Package discounts: furnace + AC, IAQ upgrades, or smart thermostats can reduce your per-unit cost.

• Financing and promos: predictable monthly payments often turn a $5,000+ investment into an affordable utility-like expense.

If you already have 1–2 quotes, send them to us. In many cases, For Saving can match or beat the pricewith better commissioning and warranty coverage.

Should You Wait or Replace Before 2026?

Some homeowners hope furnace prices will drop if they “wait another season.” Based on 2021–2025 trends,equipment, labour, and permits have generally moved upward, not downward.

It usually makes sense to replace now (or plan early) if:

• Your furnace is 15–20+ years old and facing a major repair (heat exchanger, blower motor, or board).

• You’ve had multiple breakdowns in the last few winters.

• You’re planning a heat pump or major HVAC upgrade in the next few years anyway.

• You want to avoid a January emergency replacement when schedules are full and choices are limited.

Use the 2021–2026 table as your benchmark for what’s “normal” in Toronto—then call For Saving to see howfar we can bring your actual quote down with smart design, rebates, and promotions.

Bottom Line – How Much Is a New Furnace in Toronto in 2026?

For a typical Toronto or GTA home in 2026, plan around:

• $4,300–$7,000+ for a high-efficiency natural gas furnace with standard installation.

• $4,300–$5,500 if your install is straightforward and you choose an entry or mid-range model.

• $6,500–$8,000+ for premium variable-speed systems, complex installs, or bundled upgrades.

Use these numbers as a reality check against the quotes you receive. Then, before you sign anything, call For Saving Home Services Inc. Our team can walk you through 2026 pricing, current rebates, and system options—and often deliver a better furnace, better installation, and a better overall deal than the “big brand” averages suggest.