Will replacing them [the windows] achieve my goals (energy efficiency and noise reduction) or am I better off with another solution that costs less?

There are several variables that must be taken into account (read this!) in order to even begin to give you any kind of meaningful advice. In the meantime, consider the following:

• The average monthly electric bill for a single-family home in the United States is $117.46.
• The average whole-house window replacement cost is $6,400.
• On average, homes that upgrade their windows will see a 12% savings on their energy bills.

🙂

The link seems to be broken. If it lists $6400 as an average price for a whole-house window replacement I suspect that its grossly outdated.

Here are some current numbers: https://www.remodeling.hw.net/cost-vs-value/window-replacement-vinyl-upscale

As for the original question, yes, QUALITY replacement window will be more energy efficient, and in all likelihood reduce noise as well, however I'd agree with the intended premise of the above post which is that it will take an awful long time(if ever) for windows to pay for themselves in energy savings. That said, there are very few home improvements that do save you money like windows do, along with the other benefits of improved home value, improved comfort, ease of use, aesthetics, etc. Windows are kind of a weird deal that way, where shady sales guys will try to convince you that they they'll save tons of money in energy, while other well-intended folks will overcompensate by saying that they aren't worth it based on energy savings, as though replacing your flooring or your countertops is saving you money in any way at all.

Does all of that mean that replacing your windows is the right decision for you? Nope. If you prefer the charm of your old windows and would be satisfied with what would likely be a smaller level of improvement, adding some storm windows inside or out would help. What is right for you will really depend on your goals, expectations, and budget.

@HomeSealed Exteriors, LLC: “The link seems to be broken. If it lists $6400 as an average price for a whole-house window replacement I suspect that its grossly outdated...however I'd agree with the intended premise of the above post which is that it will take an awful long time(if ever) for windows to pay for themselves in energy savings.”

Thanks for letting me know about the broken link; it *should* be working now.

Regarding the price of a whole-house window replacement: While $6,400 seems so low that it must be an outdated figure (Lord knows I spent a hell of a lot more than that back in February of this year replacing just the windows on the BACK of my house…and only in my DREAMS is my monthly power bill $117.46!), we’re talking in AVERAGES here. The numbers make more sense when you see — which you can do now since the link is working ;) — what they’re considering ”average.” But, hey: At least you were able to see what my larger point was!

Interior or exterior storms would probably be cheaper and more efficient.

That chart Homesealed linked is pricing some very expensive options that might cost more the windows alone.

If the existing windows need rehabbing/weather stripping plus storms this cost may exceed the cost of a replacement window.

A storm window paired with single paned window can out perform a new window with a typical dual paned or even triple paned glass pack. A new window with a modern glass pack will out perform an old window and storm in engery savings and the better brands even more so even in dual pane. I‘d be leary of salesman making substantial claims in either category, personally I would make zero claims and never do. I’m sure they wouldn’t either if you asked for it in writing.

Without some real data and observations of the home, these predictions are built on a foundation of sand.

A single glazed window with storm can perform better than a quality replacement window with a standard glass package in regards to STC ratings, varibles will come into play here of course.

Thermally the new windows will be better, how much depends on varibles as well.

This forum is so helpful! I think a whole house (or even half house) set of quality replacement windows is out of the budget for the next few years. I'll plan to enhance my attic insulation and get some quality cellular blinds for now.

Attic insulation will be a much better return on investment. I'm a spray foam advocate but even classic loose cellulose is amazing

Sealing all the bypasses/air leaks is key before adding insulation. A blower door test is very helpfull.

What @toddinmn said. Don't bother with the insulation unless you are air sealing first.