Twin Cities homes with EV chargers could be worth more

Data: Realtor.com, Cox Automotive; Note: Among 100 biggest metro areas; Chart: Axios Visuals

Electric vehicle chargers can be a rare find among houses for sale in the Twin Cities, according to a new report.

Why it matters: Homes with EV chargers could hold greater resale value as more car buyers make the switch, Realtor.com chief economist Danielle Hale says.

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While EV sales are rising, they still represented just 5.4% of all new car purchases in Minnesota in 2022.

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.

• Areas with higher EV ownership rates saw higher shares.

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

What they're saying: California transplant Jeff Glover says at-home charging is so essential that he promptly installed a charger when he moved to Lake Elmo.

• "None of the homes I viewed had one," says Glover, who tells Axios the charger at his old house was a valuable selling point.

Catch up quick: Several Minnesota companies offer incentives for home chargers, including installation rebates and discounted charging costs , per the U.S. Department of Energy. (There's also a federal tax credit .)

• The average installation costs over $2,000 in Minneapolis, per HomeAdvisor .

What's next: A charging station setup could be required in certain newly built homes , under a bill working its way through the state Legislature.

• At least one city — St. Paul — has already passed requirements that will require some new multi-family buildings to include the electrical wiring needed for EV chargers.

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