That's fascinating and I believe you were subject to some weird market conditions there. Look at the complexity of gas burners vs a reversing valve and electric heat strips and I think you will see what I mean.

I replaced my air-to-air heat pump for 3-4k last year.

The challenge is there aren't a lot of options for heat pumps in many US markets it seems. There's really only higher end units available, so there's no range in prices.

I priced out a heat pump versus just an AC and gas furnace in my area, and it was a similar spread a few years ago for me in Texas.

The install price is only the start. The total cost of ownership over expected lifetime is the important number for many. That initial 7K installation cost is only a fraction of what you’re going to pay in gas and electricity over the next decade.

Very true. Simply having gas available to use results in a base bill for service, even if your usage is zero.

And yet what I see time and again is that initial purchase price is the only focus for construction costs, even rehab work. Those budgets are a separate bucket from utility bills so lower priced projects get approval even if utility bills will be higher.

How long do those units last, though, and what is their operating cost over their lifetimes? TCO obviously includes more than the initial cost of the equipment.

Gas heat probably should be tuned up for clean burning every year or two. A heat pump is generally good for years until something breaks. Both systems need filter changes and coil cleaning, which most homeowners can do themselves.

Couple "fun" things about a heat pump; You will smell burning the first time the electric strips are used every year moving into the heating season, it's just dust burning off. Once you start moving into colder weather you might notice the system changing into defrost mode so it can melt ice off of the outside coils. There's a variety of sounds that accompany this and you might even see a bunch of steam coming off of the outside unit. It isn't smoke and it's normal. Every year there's a flood of 911 calls about this.

It's worth mentioning that the Inflation Reduction Act is now providing for substantial subsidies for purchasing heat pumps (and other home electrification projects).

Anyone doing the math today on a similar purchase should really check out how much they can get from the government: https://www.rewiringamerica.org/app/ira-calculator