THERE ARE STILL SUBSTANTIAL COST-REDUCTION OPPORTUNITIES AVAILABLE.
EV adoption continues to accelerate. According to Plug In America’s 2025 EV Driver Survey, the U.S. EV market hit a new milestone in 2024, with over 1.56 million plug-in electric vehicles sold, marking the first time annual sales have crossed the 1.5 million mark. Momentum is building further: nearly 300,000 new electric vehicles were sold in just the first quarter of 2025, an 11.4 percent year-over-year increase. The survey also reinforces just how central home charging is to the EV experience. 94 percent of EV driver respondents said they have access to EV charging at home, and of those, nearly 95 percent charge at home at least weekly. Yet for multifamily residents, that access remains far from guaranteed. EV drivers in multifamily housing were significantly more likely to cite home charging THE DEMAND ISN’T SLOWING DOWN
as both an initial and ongoing concern — and those without home charging access are measurably less likely to make their next vehicle an EV. The gap is clear and for property owners, so is the opportunity. For property owners, that demand translates directly to competitive positioning. Tenant turnover costs an average of $4,000 per unit. Amenities that retain residents, especially high-value, sustainability-minded tenants, pay for themselves. And with 27 percent of renters already willing to pay more each month for access to EV charging, the ROI conversation goes beyond cost offsets.
EV ADOPTION CONTINUES TO ACCELERATE.
Nearly
U.S. EV market in 2024 1.56 million Plug-in electric vehicles sold
were sold in just the first quarter of 2025
new EVs 300,000
An 11.4% year-over-year increase
95%
27% of renters
Nearly
already willing to pay more each month for access to EV charging
charge at home at least weekly
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