It depends on what failed. Many parts can be replaced on their own: a heating element, a thermostat, a gas control valve, an igniter, or the anode rod that protects the tank from rust. When one of those fails on a tank that is otherwise sound, repair is usually the better choice. A tank that leaks from the body cannot be repaired. The steel has rusted through, and the leak will grow. That heater needs replacement. Age matters too. An old tank that needs a major part may fail again soon, so we tell you what we found and let you compare both choices. We do not quote a price on this page because tank size, venting, access, and code upgrades change the cost of each job. The estimate is free.