The electric vehicle (EV) revolution is well underway, and the U.S. market is leading this global shift with unprecedented growth. In 2023 and 2024, EV sales in the United States hit record highs, signaling a transformative change in consumer behavior. According to a recent report from Electrek, this upward trend is expected to continue into 2025. Supporting this forecast, Cox Automotive projects that EVs will make up approximately 10% of all new car sales in the coming year—up from just 7.5% in 2024.
Behind this surge in EV adoption lies a growing infrastructure challenge. While EV ownership is expanding across the country, many communities still lack adequate charging options—particularly in multifamily housing developments. This gap has become a critical concern for property owners and managers, especially as nearly two-thirds of renters in the U.S. live in multifamily units.
Overnight charging at home remains the preferred option for more than 90% of EV drivers. Yet, for the millions living in apartments, condos, or other multifamily residences, this convenience is often out of reach. As EVs become mainstream, property owners are facing increasing pressure to upgrade their offerings by incorporating EV charging stations.
While the prospect of installing EV chargers in a multifamily property may seem complex or costly, the benefits—both immediate and long-term—are substantial. Providing this amenity not only addresses growing tenant expectations but also positions your property as a forward-thinking, high-value asset in a competitive real estate market.
The profile of the modern renter is changing. With more people prioritizing sustainability and convenience in their daily lives, EV charging stations are fast becoming a must-have feature. For multifamily property owners, this presents a strategic opportunity to differentiate their offerings.
Currently, only a small percentage of multifamily properties offer EV charging, which means early adopters have a unique advantage. Offering on-site charging stations can be a strong incentive for prospective tenants who drive EVs or plan to in the near future. And for current tenants, it can be the amenity that keeps them from looking elsewhere.
In essence, EV charging isn’t just about meeting a need—it’s about building long-term tenant relationships through added convenience and modern living amenities.
With EVs becoming more common and desirable, properties equipped with charging stations can command higher rents. Renters are increasingly willing to pay a premium for access to sustainable and future-proof amenities. Studies have shown that amenities like fitness centers, high-speed internet, and smart home features add value to rental units. EV charging is joining that list.
In competitive markets, this premium can offset the initial cost of installation and generate recurring income over time. In some cases, property owners can charge tenants a monthly fee for access to the EV chargers or use metered pricing based on electricity usage.
Whether the chargers are reserved or shared, the inclusion of charging infrastructure creates a tangible financial incentive for multifamily landlords.
Beyond higher rents, EV charging stations present opportunities to open new revenue streams. Chargers can be monetized in multiple ways: time-based, session-based, or energy-consumption pricing. Depending on how they are set up, property owners can collect fees for each use, or offer subscription-based access for tenants.
Additionally, charging spaces can be leased to third parties, including non-residents or ride-share drivers, when not in use by tenants. With the right platform integration, it's possible to manage access and payments automatically, turning parking areas into valuable income-generating assets.
For properties with a strong footfall or visibility in urban areas, EV charging may even become a community resource—positioning your site as a convenient neighborhood charging hub.
Properties with EV infrastructure are seen as more desirable, both to renters and investors. Just as solar panels or energy-efficient appliances boost a property’s appeal, EV charging stations add long-term value. According to real estate experts, buildings equipped with sustainable technologies tend to see higher occupancy rates, lower turnover, and greater asset appreciation over time.
As federal and state governments continue to push for lower carbon emissions and support the electrification of transportation, having EV infrastructure in place makes your property compliant with future regulations—and eligible for a growing number of incentives and rebates.
This type of future-proofing isn’t just smart business; it’s an essential component of risk management and strategic planning in the era of clean energy.
Environmental responsibility is becoming a key value for today’s renters. Millennials and Gen Z renters—who make up a large and growing segment of the market—tend to prioritize sustainability when selecting a place to live. For multifamily property owners, installing EV chargers is a visible, actionable way to demonstrate alignment with these values.
Additionally, local governments and municipalities increasingly expect property owners to support green building initiatives. By installing EV charging stations, you contribute to reducing local emissions, lowering urban air pollution, and advancing climate goals.
Many utility companies and municipalities also offer credits or incentives for installing charging infrastructure, further enhancing the environmental and financial benefits.
Despite the many advantages, multifamily EV charging projects face unique challenges that single-family homes do not. Shared infrastructure, limited electrical capacity, and complex tenant arrangements can complicate installation. However, none of these obstacles are insurmountable.
One of the most common concerns in multifamily EV charging is electrical load capacity. Older buildings may not have enough available power to support multiple charging stations. Solutions like load management software, energy-efficient chargers, or scheduled charging times can help mitigate this issue.
Smart chargers can also balance power distribution across multiple units, ensuring tenants get the charge they need without overloading the system.
Parking allocation in multifamily units can be tricky. Not every tenant may have a dedicated parking spot, and landlords may struggle to decide how and where to install chargers. In such cases, shared-use models and reservation-based charging can offer a flexible solution.
Some property owners assign EV chargers to specific spaces, while others implement a “first-come, first-served” model with smart access control. Either approach can be tailored to meet the specific needs of your property.
The initial investment for EV charging infrastructure—especially when trenching, panel upgrades, or parking renovations are involved—can be significant. However, there are numerous funding options and incentive programs available to ease the burden.
Federal and state grants, utility company rebates, and public-private partnerships can help cover up to 80% of installation costs in some areas. Leveraging these resources can dramatically improve the return on investment and make the project more feasible.
Working with an experienced EV charging provider is also essential. These companies can handle everything from site audits and permitting to equipment installation and backend software—ensuring a seamless, cost-effective rollout.
Installing EV charging infrastructure at your multifamily property doesn’t have to be overwhelming. With the right plan and partners in place, the process can be straightforward and rewarding. Here’s a simple step-by-step guide to getting started:
Begin by surveying current tenants or reviewing lease data to assess interest in EV charging. Ask how many tenants own EVs or plan to buy one in the near future. This will help determine how many chargers you’ll need and what type (Level 1, Level 2, or DC fast chargers) makes sense for your location.
Partner with an EV charging provider or electrician to assess your site’s electrical capacity, layout, and parking infrastructure. This assessment will identify potential challenges and help guide charger placement and load management strategies.
Decide how you want to structure access and payment. Will charging be included in rent? Offered as a premium service? Open to the public? Your choice of business model will influence hardware and software decisions.
Research local and federal incentive programs. Many utilities offer rebates for multifamily charging infrastructure, and government programs may provide tax credits or grants to offset costs.
After installation, work with your provider to train staff, monitor usage, and maintain the equipment. Promote your new amenity in property listings, on your website, and through tenant communications. Make sure current and prospective renters know you offer EV charging—it can be a powerful differentiator in a crowded market.
Multifamily EV charging is more than a passing trend—it’s a critical component of tomorrow’s housing infrastructure. As electric vehicles become a larger part of the transportation landscape, renters will expect to charge where they live. Property owners who respond to this demand now will enjoy long-term advantages, from higher occupancy and rental income to increased property value and sustainability leadership.
By investing in EV charging stations, multifamily housing providers aren’t just adding an amenity—they’re building a foundation for future growth and resilience. In doing so, they’ll not only meet the needs of today’s residents but also future-proof their assets in a rapidly electrifying world.
