Study: Homes Near EV Charging Stations Fetch a Premium
Homes near charging stations for electric vehicles command higher sales prices, according to a new analysis from realtor.com®. Researchers found that the combined median listing price for areas that are most accommodating to electric vehicles is $782,000—1.5 times more than their surrounding areas and 2.6 times higher than the rest of the country.
“Our data shows there’s definitely a link between the prevalence of electric vehicle charging stations and higher home prices,” says realtor.com® Chief Economist Danielle Hale. “But there’s a difference between correlation and causation. The trend we’re seeing in the data is most likely a result of the fact that wealthier homeowners are more likely to purchase expensive electric vehicles. But regardless of the cause, if you’re shopping for a home in a ZIP code with an abundance of electric-vehicle charging stations, you’ll likely pay a premium.”
Realtor.com® used data from OpenChargeMap to track 19,743 charging stations across 6,980 ZIP codes. They then analyzed the housing markets of the top 20 areas with the most electric vehicle charging stations. Irvine, Calif., had the most charging stations.