Top HOA Statistics and Trends of 2024

Written by Shane Sentelle Updated 01/14/2024

Homeowners associations—or HOAs, as they are more commonly known—represent many homeowners in the United States. HOAs are the governing bodies for designated neighborhoods and communities; their purpose is to enforce community guidelines and maintain neighborhood standards. HOAs are usually led by an elected board of directors, and they wield considerable power and influence over homeowners’ decisions, including exterior paint colors, fence styles, and landscaping.

An HOA’s presence may attract or repel you from moving into a certain neighborhood. We’ve compiled a list of key statistics about HOAs in the United States today. When referring to HOAs, the term will cover community associations for single-family neighborhoods, townhomes, and condominium associations.

General HOA Statistics

The following general statistics surrounding HOAs are from a compilation of 2021 data.

HOAs managed 358,000 U.S. neighborhoods as of 2021.¹
As of 2021, 74.2 million U.S. residents live in an HOA community.¹
Twenty-nine percent of the U.S. population lived in an HOA community as of 2021.¹
Condominium community associations make up 35% to 40% of all homeowners associations in 2021.¹
Homeowners associations of single-family homes and townhomes account for 58% to 63% of all broader homeowner community associations in the United States as of 2021.¹
As of 2021, the approximate property value of all owned homes within HOA communities was $11 trillion.¹
There were 2.5 million U.S. homeowners who serve as HOA board members or committee members as of 2021.¹
Co-ops make up 2% to 4% of all community associations in America, according to 2021 data.¹
In 2021, there were 27.7 million housing units in the United States, an increase of 200,000 from 2020.¹

HOA Industry Statistics

HOA management is big business, and each one has an overseeing committee. These community managers and support staff have numerous responsibilities, including organizing neighborhood landscaping and regular maintenance. Staff are also responsible for making sure that everyone living in the HOA abides by the neighborhood rules, called “CC&Rs” (covenants, conditions, and restrictions). Examples of CC&Rs include what type of fence you can put up, whether or not you’re allowed to install solar panels or the type of garbage you can use.

HOAs also levy and collect dues, fees, and fines; hold regular business meetings; update and manage their bylaws; and hold members accountable to the CC&Rs equitably. The following data is from the year 2021.

Property management companies manage 60% to 70% of all HOAs.¹
There are 55,000 to 60,000 community association or homeowners association managers. That figure includes on-site managers and those who provide part-time support to multiple communities.¹
Of the more than 350,000 HOAs in the United States, 6,000 to 9,000 are classified as large-scale.¹
Large-scale homeowners associations oversee a neighborhood of more than 1,000 lots or those whose annual budget exceeds $2 million.¹
The number of HOA management company employees is estimated to be between 100,000 and 105,000.¹
In 2021, $106.4 billion in assessments was collected from homeowners by community HOAs.¹
Of the assessments collected in 2021, $26.6 billion was allocated for future repairs of common property—such as roofs, roads, and community swimming pools—or upgrades to meet new environmental and energy-efficiency standards.¹

HOA Geographical Statistics

Homeowners associations exist nationwide, but their prevalence varies by state and region. Let’s look at the statistics around where HOAs have the most influence and where residents do not have the same connection. The following data is from the year 2021.

California has the most HOAs (50,010) and the most residents in an HOA community (14.3 million).¹
As of 2021, Florida has the highest percentage of residents living in HOA communities (45.6%).²
Arkansas has the lowest percentage of residents as part of a homeowners’ association at 2.1%.²
South Dakota has the fewest homes in HOAs.²

HOA Financial Statistics

Let’s dive deeper into the financial world of HOAs. How much are monthly dues? How much do homeowners pay in special assessments each year?

In a March 2023 survey, 91% of HOA board members and community association managers reported unexpected expense increases in 2023 because of rising maintenance costs and inflation.³
To deal with rising costs, 73% of surveyed community association managers or board members say they plan to increase assessments in 2023.³
Eighty-seven percent of property management companies that manage HOAs will raise fees in 2023.³
Seventy-one percent of surveyed property management companies said they will raise fees by as much as 10% in 2023.³
The mean monthly HOA fee was $191 in 2021.⁴
With 27.7 million housing units sitting in communities with an HOA, an estimated $5.29 billion in monthly dues was paid by U.S. HOA members in 2021.¹,⁴

HOAs and New Construction Homes

While many older homes built in the middle of the 20th century are likely not part of a homeowners association, that’s not true for many newer homes developed in the 21st century. Let’s examine how HOAs and newly constructed homes are intertwined.

According to 2021 data, approximately 12 million U.S. housing units are in a community secured by fences or walls. This accounts for 10% of all housing units.⁴
Seventy-eight percent of newly constructed single-family homes built for sale in 2021 were part of an HOA community. ⁵
By comparison, 64% of newly constructed homes built for sale in 2011 were part of an HOA community. ⁵
In 2021, the South was the most active HOA region in the country for new homes: 82% of its new single-family homes were inside an HOA community.⁵
In 2021, only 40% of new homes built by a homeowner or an individual contractor (as opposed to a homebuilder) were built within an HOA-controlled community.⁵
The number of new single-family homes built in 2021 was 767,000.⁵
Forty-two percent of HOA residents say their fees are “too much,” according to a 2022 Foundation for Community Association Research survey.₆
According to a 2022 homeowner satisfaction survey, 67% of homeowners rate their satisfaction with living in a managed community as “good” or “very good.”₆

Our Conclusion

Homeowners associations play a major role in the home buying experience, particularly for the millions of homeowners who live within one. If you’re deciding whether or not to move into an HOA, you may find some of these statistics helpful. Ultimately, there’s no right or wrong answer—many homeowners love being part of a community and having community maintenance taken care of, while others may find the rules to be stifling.

Make sure you’re aware of all the rules and associated fees before buying so you can determine what’s best for you and your family. If you’re moving to, from, or within an HOA community, we recommended Safeway Moving Inc. due to its high insurance requirements for its partners.

Sources

“2021-2022 U.S. National and State Statistical Review.” Foundation for Community Association Research. 2022. https://foundation.caionline.org/wp-content/uploads/2022/09/2021-2CAIStatsReviewWeb.pdf
“Foundation for Community Associations Research: Factbook Data & Statistics.” Foundation for Community Association Research. Dec. 31, 2021. https://foundation.caionline.org/publications/factbook/dashboard-2021/
“Foundation for Community Association Research Snap Survey March 2023.” Foundation for Community Association Research. March 2023. https://foundation.caionline.org/wp-content/uploads/2023/03/FCARSnapSurveyRisingCostsFinancialPlanning2023final.pdf
“American Housing Survey (AHS).” United States Census Bureau. September 29, 2022. https://www.census.gov/programs-surveys/ahs/data/interactive/ahstablecreator.html
“Characteristics of New Housing.” United States Census Bureau. June 1, 2022. https://www.census.gov/construction/chars/current.html
“Community Associations Remain Preferred Places to Call Home: 2022 Homeowner Satisfaction Survey.” Foundation for Community Association Research. https://foundation.caionline.org/wp-content/uploads/2022/08/FCARHomeownerSatisfactionSurveyResults2022Final.pdf

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