According to the manufacturer’s suggested service lifetime, the expected lifespan of a water heater is approximately eight to 12 years. It depends on the location and design of your unit, the quality of installation, the maintenance schedule, and the water quality. If your water heater has been in service for more than 10 years, leaks around the base, or if it doesn’t heat up evenly, it’s probably time to replace it. If you want to cut down on your electricity bills, you could consider upgrading to a more efficient model.