Gas: This applies to all types of stoves: You can find models across a wide range of price points, and the most expensive options are not always the best. Price depends on where you live and your retailer, so it pays to shop around. If you’re looking for a point of reference, Consumer Reports recently released its list of top-performing ranges of all types for this year. The No. 1 gas model from LG goes for $1,698 to $2,447.
Traditional electric: These are more often among the lowest-priced stoves, though not across the board. The favorite from Consumer Reports is made by LG and runs from $698 to $1,299.
Induction: While a high-end induction model may be two or more times the price of a comparable gas or traditional electric option, at the entry level you can find induction cooktops for less than $1,000, putting them more in line with other ranges. A Frigidaire that goes for $1,093 to $1,549 was the third-place induction range from Consumer Reports, while the top-ranking model from LG comes in at $2,298 to $3,500.
Especially if you are switching from gas to induction (or traditional electric), you have to consider the price of changing your lines and other hardware, though there are some government incentives that can help cover the cost of the appliance and the conversion. If you don’t have cookware that is induction compatible, that would be an additional cost, though many common pans, including cast-iron, stainless steel and some nonstick, already are. Aluminum, pure copper, glass and ceramic are not.
While induction is more energy-efficient than older gas or electric stoves because the direct transfer of energy means no heat is lost to the air, keep your energy bill expectations in check, Paul Hope, the home and appliance editor at Consumer Reports, told me. You may see modest savings but nothing dramatic, especially as cooking appliances account for only about 2 percent of your household energy usage.
