May 11, 2024 - News

Home EV chargers are hot commodities in Chicago

Bar chart showing the share of EV-friendly home listings on Realtor.com in 2023. San Jose, Calif. led the way with 4.9 percent of listings. San Francisco, Seattle, Los Angeles, Oxnard, Calif., San Diego, Riverside, Calif., Honolulu and Austin rounded out the rest of top metros.
Data: Realtor.com, Cox Automotive; Note: Among 100 biggest metro areas; Chart: Axios Visuals

Homes with electric vehicle chargers could hold greater resale value in Chicago as more car buyers make the switch, Realtor.com chief economist Danielle Hale says.

Why it matters: Access to at-home EV charging is a rare and increasingly desirable amenity nationwide.

Between the lines: Home chargers are often more convenient than public ones, and faster than charging cables that come with most EVs.

Catch up quick: A law that took effect this year requires new or renovated houses, condo and apartment buildings to include the infrastructure needed for EV chargers.

What they're saying: "I don't want to worry about getting to a charging station and waiting," says Oak Park homeowner Jeanne Gallo, who received a nearly $450 federal tax credit to install a charger in her garage.

  • The average installation costs over $1,700 in Chicago, per HomeAdvisor.

Yes, but: Charging at home can hike the electric bill by 20% or more, says Dave Mausner, who charges "his and hers" Chevy Bolts in his Oak Park garage overnight.

  • It's one reason some EV owners add solar panels atop their garage.

Reality check: You've got time to install that charger. EV adoption hasn't been swift, Axios' Joann Muller reports.

The big picture: A small but growing share (0.9%) of U.S. homes listed on Realtor.com in 2023 were described as EV-friendly, up from 0.1% five years earlier, according to the company's and Cox Automotive's report.

Some Chicagoans say they're eager to charge at home, but their HOA rules prevent them from installing a charger, or their building doesn't offer one.

  • Near West Side condo owner Aksh Gupta plugs into his garage's regular outlet, which he says provides enough juice for his daily commute.

Note: Cox Automotive's parent company, Cox Enterprises, also owns Axios.

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