With prices starting at $35,250, the 2027 Hyundai IONIQ 5 is still one of the most affordable EVs on the market.

2027 Hyundai IONIQ 5 prices and range

Just last month, several reports suggested Hyundai dealers were running out of IONIQ 5 inventory, with buyers being put on a waitlist.

Since it went on sale in late 2021, Hyundai’s electric SUV quickly became one of the most popular in the US.

For the 2025 model year, Hyundai introduced the first upgraded IONIQ 5, its first EV built in the US at its Metaplant outside of Savannah, GA.

To offset the loss of the $7,500 federal EV tax credit last year, Hyundai slashed prices on the 2026 IONIQ 5 by up to $9,800 on some trims. According to new order guide data reported by CarsDirect, prices for the 2027 Hyundai IONIQ 5 will start at $35,250, or $250 more than the current model.

That’s for the base 2027 Hyundai IONIQ 5 SE Standard Range model with an EPA-estimated driving range of up to 245 miles.

2027 Hyundai IONIQ 5 (Source: Hyundai)

Upgrading to the extended-range SE RWD adds $2,500, starting at $37,750, with up to 318 miles of range. That’s also $250 more than the 2026 model.

Prices for the SEL trim start at $40,200, $400 more than the current IONIQ 5, while the XRT is getting a $250 price hike and now starts at $46,525. The Limited trim is $150 more, priced from $49,125.

2027 Hyundai IONIQ 5 interior (Source: Hyundai)

Hyundai has yet to announce prices for the 2027 IONIQ 5 N, but last month it cut the 2026 model’s base price by $6,300. The 2026 IONIQ 5 N now starts at $59,900.

How does the IONIQ 5 stack up to the competition? It’s still more affordable than the Tesla Model Y, which starts at $39,990 for the RWD and has up to 321 miles of range. Even the IONIQ 5 SE RWD, with up to 318 miles of range, is still about $2,000 less.

2027 Hyundai IONIQ 5 interior (Source: Hyundai)

The IONIQ 5 was the third best-selling EV in the US in the first half of 2026, behind the Tesla Model Y and Model 3.

Starting at $35,000, Hyundai’s electric SUV is about the same price as competitive models like the 2027 Toyota bZ and Chevy Equinox EV.

Hyundai IONIQ 5 Trim	Driving Range (miles)	2026 Starting Price*	2027 Starting Price**
IONIQ 5 SE RWD Standard Range	245 miles	$35,000	$35,250
IONIQ 5 SE RWD	318 miles	$37,500	$37,750
IONIQ 5 SEL RWD	318 miles	$39,800	$40,200
IONIQ 5 Limited RWD	318 miles	$45,075	$45,225
IONIQ 5 SE Dual Motor AWD	290 miles	$41,000	$41,250
IONIQ 5 SEL Dual Motor AWD	290 miles	$43,300	$44,700
IONIQ 5 XRT Dual Motor AWD	259 miles	$46,275	$46,525
IONIQ 5 Limited Dual Motor AWD	269 miles	$48,975	$49,125

2026 and 2027 Hyundai IONIQ 5 prices and range by trim (*Does not include $1,600 destination fee**Destination fee still unknown)

Hyundai’s sister company, Kia, has it beat with 2027 EV3 prices starting at just 30,000. But the IONIQ 5 is bigger and more powerful, offering more interior space for passengers.

Since the 2027 Hyundai IONIQ 5 is a carryover model, not much is changing. Roof rails will be available across all trims and standard on SEL models and above, rather than just the XRT and Limited.

Hyundai HomeLink will be exclusive to Limited trims, while the Cargo Cover will only be offered as an additional accessory.

Outside of that, Hyundai is dropping the Gravity Gold Matte and Sage Silver Matte colors for the 2027 model.

With the 2027 models arriving, you may be able to snag a better deal on the current 2026 Hyundai IONIQ 5. If you’re interested in seeing one in person, you can use our link to find IONIQ 5 models available near you (via a trusted affiliate link).