Hot Water Heaters for 1 and 2 Bed Units

[Joel Florek]

I wanted to quick ask what people have found to be the most economical solution to replacing water heaters for 1 and 2 bedroom apartments. I am looking for recommendations on brand and size. The best I can seem to find is 30 gallon for $300. But usually ends up being at least $50 to $75 in misc parts to get the connections to fit right during replacement due to a slightly different size. 

Also, does any owners of units simply go through and replace the anode, thermostat, and heating elements for less then $100 in materials and find that has proven to be a solution to get the units to last another 7 to 8 years?