The reliable observation and accurate estimates of land–atmosphere water vapor (H2O) flux is essential for ecosystem management and the development of Earth system models. Currently, the most direct measurement method for H2O flux is eddy covariance (EC), which depends on the development of fast-response H2O sensors. In this study, we presented a cost-efficient open-path H2O analyzer (model: HT1800) based on the tunable diode laser absorption spectroscopy (TDLAS) technique, and investigated its applicability for measuring atmospheric turbulent flux of H2O using the EC method. We prepared two HT1800 analyzers with lasers that operate at wavelengths of 1392 nm and 1877 nm, respectively. The field performance of the two analyzers was evaluated through inter-comparative experiments with LI-7500RS and IRGASON, two of the most commonly used H2O analyzers in the EC community. Water vapor densities measured by the three types of analyzers had high overall agreement with the reference sensor; however, they all experienced drift. The mean density drifts of HT1800, LI-7500 and IRGASON were 3.7–5.2%, 4.0% and 3.8%, respectively. Even so, the half-hourly H2O fluxes measured by HT1800 were highly consistent with those by LI-7500RS and IRGASON (with a difference of less than 2%), suggesting that HT1800 can obtain H2O fluxes with high confidence. The HT1800 was also proved to be suitable for EC application in terms of data availability, flux detection limit and response to the high-frequency turbulent variation. Furthermore, we investigated how the spectroscopic effect influences the measurements of H2O density and flux. Despite the fact that the 1392 nm laser was much more susceptible to the spectroscopic effect, the fluxes after correcting for this bias showed excellent agreement with the IRGASON fluxes. Considering the cost advantage in laser and photodetector, the HT1800 analyzer using a 1392 nm infrared laser is a promising and economical solution for EC measurement studies of water vapor.