EV Charging Stations: The New Must-Have Condo Amenity
As electric vehicles (EVs) surge in popularity, the real estate market is evolving with them. Eco-conscious buyers aren’t just hoping for greener features—they’re demanding them. One amenity leading that charge is on-site EV charging. For developers, investors, and condo boards, understanding its value is key to staying competitive in a changing market.
The Rise of EV Adoption
EV adoption is accelerating, driven by high fuel costs, climate awareness, and rapid innovation. BloombergNEF projects passenger EV sales will top 30 million by 2027 and reach 73 million annually by 2040. Condo buildings with charging stations are well-positioned to meet this growing demand and appeal to modern buyers seeking future-ready homes.
The Cost Advantage
A 2020 Consumer Reports analysis highlights the long-term financial benefits of EV ownership:
“When total ownership cost is considered—including such factors as purchase price, fueling costs, and maintenance expenses—EVs come out ahead, especially in more affordable segments. The savings advantage can be compelling in the first few years and continues to improve the longer you own the EV.” [Consumer Reports, 2020]
Fuel savings play a major role. Gas prices are volatile, while electricity remains more stable and often cheaper. As Courtney Lindwall of NRDC explains:
“We see routine price swings… influenced by global oil markets, geopolitical conflict, extreme weather events, and supply chain disruptions. In contrast, electricity is typically regulated… Many utilities also offer time-of-use rates, allowing EV drivers to charge during low-cost, off-peak hours—giving you even more control over refueling costs.” [NRDC Blog]
Appealing to a New Generation of Homeowners
Millennials and Gen Z are driving the EV movement. These generations value sustainability, technology, and affordability—all of which EVs deliver. A 2025 Deloitte survey found that “environmental concerns continue to influence Gen Z and Millennial behavior.”
EVs fit their eco-conscious lifestyles, offer lower fueling and maintenance costs, and feature the kind of smart technology they expect—like app connectivity and over-the-air updates. For many, owning an EV is also a reflection of identity: modern, responsible, and forward-thinking.
Younger buyers make up a growing share of the condo market, and they’re looking for communities that align with their values—making EV-ready buildings particularly attractive.
EV Charging and Property Value
EVs aren’t a passing trend—they’re shaping the future of real estate. As Natalia Kourant wrote in the Appraisal Institute of Canada’s Canadian Property Valuation Magazine:
“EVs are no longer a fleeting trend; they are becoming an integral part of our everyday lives... These charging stations are redefining property values.”
For developers and property managers, EV charging is now a necessity. Buyers—especially younger, sustainability-minded ones—expect it. Installing charging stations not only meets this demand but also boosts property value, attracts eco-conscious residents, and future-proofs investments. Those who act now will stand out in a rapidly evolving market.
Here’s to closing deals and opening doors!
