HOAs and Condos are the Preferred Places to Call Home
More than 25% of the U.S. population now lives in a homeowners association, condominium community or housing cooperative, according to the 2019 National and State Statistical Review for Community Association Data, published by the Foundation for Community Association Research.
The research is produced in conjunction with Community Associations Institute. For more than 40 years, the Foundation has published the National and State Statistical Review for Community Association Data as part of the Community Association Fact Book. The report uses American Community Survey and American Housing Survey data to better align state-level community association research.
According to the new report, based on data collected in 2018, Florida continues to lead the nation with 48,250 associations, which are home to 9.5 million residents. California is the country’s second largest state with 48,150 associations, followed by Texas (20,050), Illinois (18,700), North Carolina (14,000), and New York (13,875).
The report details top reasons for the growth of associations:
▪ The value of collective management. The research shows there are 2.5 million community association board and committee members in the U.S.
▪ Privatizing public functions. According to the study, homeowners contributed $27.3 billion to association reserve funds for the repair, replacement, and enhancement of common property (e.g., swimming pools, elevators, and resurfacing streets).
▪ Expanding affordable housing. Condominium communities account for 38–42% of the reported total of community associations.
To view the full report, visit foundation.caionline.org.
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Laura Otto is the Senior Editor of Digital Content at CAI. A seasoned journalist, Laura previously worked for a creative, advocacy agency in Washington, D.C., where she wrote and edited content for a variety of public health clients. Prior to that, Laura served as a senior writer and editor for the George Washington University School of Medicine and Health Sciences. Laura is a graduate of Temple University in Philadelphia.