Residential water consumption data can be important for sizing and operation rules in a water distribution network (WDN) if well compiled. This study aims to evaluate the impacts of a smart metering program in the city of Brasília, Brazil, by means of comparisons between costs and benefits obtained. Two groups of costs were evaluated: (i) the implementation costs, which were obtained from a public database of the Environmental Sanitation Company of Brasília (Caesb) and (ii) the maintenance costs obtained from both interviews and internal research with Caesb’s water managers. To analyze the benefits of the smart metering system, three factors were observed: (i) the water demand reduction with possible lower consumption patterns, (ii) the increased revenues from more accurate measurements, and (iii) the costs reduction when comparing the visual water meter reading with the smart metering. Furthermore to promote an economic viability analysis, this study examined the project payback time considering costs, benefits and a minimum attractiveness rate.