I was shocked by this so I jumped on Home Depot. I can go into my store here in Florida and grab a 50 gallon Electric Hot water heater right now for $400-1350 depending on how fancy I want to go. The $1350 Rheem is a hybrid model.
The basic 50 gallon 4500 watt Rheem is $409.
Last winter my heater had failed, it was about 12 years old. I called a plumber to do an install and was quoted $1200 all in. I had to wait a week for an appointment.
I took 1 cold shower and said screw it, went to Home Depot, bought a HWH and some shark fitting valve/hose kits for the hot and cold water sides and had the new unit installed in 20 minutes for around $500 all in. I have a 40 gallon unit.
https://www.homedepot.com/b/Plumbing-Water-Heaters/Pick-Up-Today/50/N-5yc1vZbqlyZ1z175a5Z1z18m9r?sortby=bestmatch&sortorder=none
edit #2
Shark Bite fittings / hoses, no need to sweat pipes. the next HWH, if I still own the house will take 10 minutes to change out.
https://www.homedepot.com/p/SharkBite-3-4-in-Push-to-Connect-x-3-4-in-FIP-Water-Heater-Connection-Kit-24680/300593719?MERCH=REC-_-searchViewed-_-NA-_-300593719-_-N&