I can't comment on how much they cost to install as mine was already installed when we bought the house (2400 sqft). However, I think it will probably vary depending on brand of stove and how you need to have it installed (direct vent, vertical pipe, etc).
As far as pellets themselves, you can get a single pallet delivered I'd say averaging about $350 a pallet, 40x 50lb bags. The cost will vary depending on brand and where you get them from.
My stove burns roughly a bag every 24 hours, maybe more on really cold days. I had 2 pallets delivered by a local nursery for a little over $800, so in theory I should be good for the season.

So $800 for the entire winter season, in theory. Do you use anything besides that to heat your home?

They are actually really easy to install, just heavy. Depending on the model. Are you doing an insert or free standing?

I have no idea, I’m in the very beginning stages of looking into them and was wondering how cost effective they were

Do you currently have a fireplace?

I don’t, so I’m assuming I’ll need a flue installed from what I’ve read

Correct. Good thing is it allows flexibility of where to put it. I own one, in a L shaped ranch and it definitely has some downsides. It's pretty loud, you hear the pellets clink when they drop. Mine also uses more than a bag a day when I kept it on a setting of 3 out of 5 because if I drop it lower the front of the house cools down to about 62. Mine supposedly heats 2000 sqft and my house is only 1500. Refilling can be a pain in the ass too. I bought a breckwell so could just be my model. In the right house they're probably great. Just the little things to think about that I wish I knew ahead of time. Still definitely cheaper than oil.

Also. That 350 a pallet is for lower quality pellets with high ash content. The better stuff at the high end is 500 pallet.

Thanks for the input. I have zero clue about pellet stoves so that information is very helpful

For comparison, I have an oil boiler driving a forced hot water system in an 1100 ft^2 house. It also supplies my hot water. I got a delivery of oil yesterday, an the cost since mid-December worked out to ~$8.60/day, and I don't have to haul around 50# bags of pellets.

No worries. Feel free to ask anything else.

I have a similarly sized house and second this down to the usage. Last year we did end up buying a few loose bags to get us through the end of the season. We purchased our pellet stove and the company that sold it installed it. It was 2 yrs ago and very reasonable. We have it serviced yearly, $150‐$200, but it's fairly easy to maintain in between.

I do not use any other form of heat. We have our heating system set as a back up in the event the stove runs out of pellets or stops for any reason. A little under 2400 sqft, 1200 per floor.

$500 a ton for good pellets is not feasible, they should/will be less "if" you can find them right now. The issue at this point of the season is your cost to buy, install and fuel isn't worth the cost. Suck it up for a 2 more months, revisit this then.

The only thing I will say is watching g both my uncles who had pellet stoves who are in their 60’s and 70’s. It is a young man’s game.