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50 gallon water heaters are the most common tank size. It can supply hot water for homes with 3 to 5 residents. The typical shower uses about 17 gallons of water, so a 50 gallon water heater should give you enough hot water for everyone to bathe.
Heating your water accounts for about 20 percent of your home's overall energy costs. New efficiency standards for water heaters less than 55 gallons get a 4 percent bump in efficiency, while water heaters with more than 55 gallons can reduce your bill up to 50 percent.