Design analysis is performed for a novel, low-cost, high-pressure, steel/concrete composite vessel (SCCV) for stationary storage of gaseous hydrogen. The SCCV comprises an inner, layered steel vessel encased by an outer pre-stressed concrete sleeve. The vessel design calculations are established based on engineering formulae from ASME Boiler and Pressure Vessel Code. A SCCV cost modeling tool is developed by considering the detailed bill of materials and labor costs for each of the vessel manufacturing steps. Using the vessel design calculations and cost modeling tool, the SCCV designs are studied for three pressure levels (i.e., 16, 43 and 86 MPa) relevant to the hydrogen production and delivery infrastructure. The effect of vessel dimensions on SCCV cost is discussed.