Why Replacing a Water Pressure Regulator Is More Urgent Than You Think If you've noticed banging pipes, dripping faucets, or a sudden spike in your water bill, replacing your water pressure regulator (also called a PRV, or pressure reducing valve) may be exactly what your home needs. Here's a quick summary of what you need to know: What it does: A water pressure regulator reduces high municipal water pressure (often 80–150 PSI) down to a safe residential level of 40–60 PSI. S