May 21, 2024 - News

Plug it in, plug it in

Illustration of a series of lightning bolts with roofs on them

Illustration: Sarah Grillo/Axios

Our hot housing market could be the key to more electric vehicles hitting Tampa Bay roads.

Why it matters: Access to at-home EV charging is a rare and increasingly desirable amenity nationwide — meaning homes with EV chargers could hold greater resale value, Realtor.com chief economist Danielle Hale says.

State of play: Lakeland-Winter Haven and North Port-Sarasota-Bradenton were among the top 10 metros with the most crowded public charging ports — suggesting a higher potential demand for at-home charging.

  • Lakeland-Winter Haven had 34 EVs per public charging port and North Port-Sarasota-Bradenton had 31.

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

  • The typical installation runs between $548 and $1,382, per HomeAdvisor. The average cost in the Tampa Bay area is $919, according to the site.

Between the lines: A garage isn't required. Tampa-St. Petersburg-Clearwater and North Port-Sarasota-Bradenton were among markets where EV-friendly listings are most commonly without a garage.

Reality check: You've got time to install that charger. EV adoption has been rocky locally and nationally.

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.

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

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