Around here using an electric water heater is only slightly more expensive than gas. Perhaps 10-15%.....downside is that they can't keep up with demand as well. Our electric is only .06 - .10 cents per kwh on a sliding scale (goes up depending on how much you have used....and maxes out at .10 cents)

A 50 gallon natural gas water heater set to a high set temp can provide pretty much nonstop hot water to 2 bathrooms/showers without any loss of temperature.
I'd consider a tankless water heater someday when I have a house, but it would have to show worthwhile savings. Where I live right now is a small condo complex with 20 units.....hot water comes from a beastly 100-120ish gallon commercial (gas) water heater. Looks to have about 1.5-2" pipe going in and out of it.

There is a separate ancient beast boiler that runs the hydronic heating.
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