With over 10.6 million electric vehicles (EVs) on the road globally, EV adoption is accelerating. By 2025, Cox Automotive predicts that EVs will make up 1 in 4 vehicle sales in the U.S. However, as more drivers switch to EVs, charging infrastructure isn’t keeping pace. 

In the U.S., more than 80% of EV charging happens at home, because it’s the most convenient, affordable, and reliable way to charge. But this solution only works for those in single-family homes. With nearly one-third of U.S. households living in multifamily properties, millions of residents lack access to reliable charging solutions.  

For multifamily property owners, EV charging is no longer just an amenity—it’s a critical offering that meets the demands of a growing resident demographic. It’s also a strategic investment with the potential to increase net operating income (NOI) and property value.

1. Boost Rents with a High-Demand Amenity

EV charging is among the top-requested amenities at multifamily properties nationwide. According to the National Multifamily Housing Council, residents are willing to pay more each month for access to EV charging, making it an attractive feature for property owners looking to increase NOI. As EV ownership grows, offering charging is shifting from a “nice-to-have” to a “must-have” for competitive properties. 

2. Attract Desirable Residents

EV drivers represent a financially stable and high-income demographic, making them ideal residents. However, most multifamily properties are not equipped to meet their needs. Today, property owners typically own 30 or more properties, but only 5% of them have EV chargers, leaving a gap in infrastructure. By offering charging, property owners can attract and retain this growing segment while differentiating their properties from competitors. 

3. Future-Proof Properties for Long-Term Competitiveness

In much the same way Wi-Fi transitioned from a luxury to an essential utility, EV charging is quickly becoming a necessity. Residents increasingly view charging access as non-negotiable when choosing a place to live. Properties without charging infrastructure risk falling behind, losing residents to competitors that are prepared to meet these evolving expectations. 

The Right Partner Can Help 

EV charging is more than a trend; it’s an investment in the future of your property and community. As demand grows, property owners must act now to integrate reliable, affordable, and convenient charging solutions for residents. Finding the right EV charging partner is imperative. Working with a third-party owner and operator, versus managing the process yourself, ensures seamless deployment and management, allowing you to meet resident needs while maximizing property value. 

EV adoption is speeding up. For multifamily property owners, the question is no longer if EV charging is necessary but when they’ll integrate it into their portfolio.