Key Takeaways
- In 2023, the U.S. HOA industry managed over 355,000 community associations
- The total number of HOA-managed homes reached 74.1 million units in 2022, representing 27% of the U.S. population
- HOA industry annual revenue exceeded $100 billion in assessments collected in 2023
- Over 53.6 million Americans resided in HOA communities as of 2021
- 29% of new homes sold in 2022 were part of HOAs
- Median age of HOA residents is 45 years, higher than national average of 39
- Average annual HOA dues were $1,144 per household in 2022
- 65% of HOAs increased assessments by 5-10% in 2023 due to inflation
- Total HOA reserve funds averaged $50,000 per association in 2022
- HOA litigation costs averaged $25,000 per case in 2022
- 12% of HOAs faced lawsuits in the past 5 years per 2023 survey
- Governing documents updated in 35% of HOAs since 2020
- 92% of professional HOA managers hold CMCA certification
- Resident satisfaction with HOA management: 68% positive in 2023 survey
- Average turnover rate for HOA board members: 25% annually
The HOA industry is a large and growing part of American housing.
Community Management and Satisfaction
- 92% of professional HOA managers hold CMCA certification
- Resident satisfaction with HOA management: 68% positive in 2023 survey
- Average turnover rate for HOA board members: 25% annually
- 81% of HOAs use third-party management companies
- Maintenance response time average: 48 hours for urgent issues
- Amenities satisfaction: 82% for pools, 65% for gyms in HOAs
- Communication preference: 70% email over meetings
- Vendor management satisfaction: 74% among HOA boards
- Online portal usage: 60% of residents access HOA portals weekly
- Complaint resolution rate: 89% within 30 days
- Manager training hours required: 16 annually in 20 states
- Board member training participation: 62%
- Emergency preparedness plans in 85% of HOAs
- App usage for HOA: 45% resident adoption
- Landscape maintenance satisfaction: 76%
- Transparency ratings average 7.2/10 for HOAs
- Volunteer participation: 35% of residents serve on committees
- Event attendance average: 40% of membership per event
Community Management and Satisfaction Interpretation
Financial Performance
- Average annual HOA dues were $1,144 per household in 2022
- 65% of HOAs increased assessments by 5-10% in 2023 due to inflation
- Total HOA reserve funds averaged $50,000 per association in 2022
- Delinquency rates in HOA payments dropped to 2.1% in 2023
- 78% of HOA budgets allocated to maintenance and operations
- Average cost of HOA management services: $15 per unit monthly in 2023
- HOA insurance premiums rose 25% on average from 2021-2023
- 42% of HOAs reported budget surpluses in 2022 fiscal year
- Capital expenditures consumed 18% of HOA budgets in 2023
- Average HOA fine revenue: $8,500 per association annually
- 88% of HOAs have adopted formal reserve studies
- Special assessments averaged $1,200 per unit in 2023
- Utility costs rose 15% in HOA budgets 2022-2023
- 30% of HOAs underfunded reserves by 20% or more
- HOA dues as % of home value: 0.8% median
- Professional management fees: $200,000 avg for large HOAs
- 55% budget increase for cybersecurity in 2023
- Violation fine averages $50 per infraction
- 70% of HOAs conducted annual audits in 2022
Financial Performance Interpretation
Legal and Compliance
- HOA litigation costs averaged $25,000 per case in 2022
- 12% of HOAs faced lawsuits in the past 5 years per 2023 survey
- Governing documents updated in 35% of HOAs since 2020
- Violation notices issued: average 150 per HOA yearly
- 67% compliance rate with Fair Housing Act in HOA audits
- Foreclosures due to HOA liens: 1,200 cases in 2022
- 55% of HOAs use professional legal counsel annually
- ADA compliance violations in 22% of public HOA amenities
- CC&Rs enforcement strengthened via amendments in 28% of HOAs
- Average duration of HOA disputes: 6 months
- 75% of states have HOA-specific legislation enacted post-2010
- Lien filings up 10% to 45,000 in 2023
- 25% of lawsuits involve architectural violations
- Mediation success rate: 78% for HOA disputes
- 90% of HOAs require board approval for rentals
- Foreclosure protection laws in 35 states
- Open meeting violations cited in 15% of complaints
- Digital voting adopted by 40% of HOAs
- Elections contested in 8% of HOAs annually
- Pet policy disputes: 22% of all complaints
Legal and Compliance Interpretation
Market Size and Growth
- In 2023, the U.S. HOA industry managed over 355,000 community associations
- The total number of HOA-managed homes reached 74.1 million units in 2022, representing 27% of the U.S. population
- HOA industry annual revenue exceeded $100 billion in assessments collected in 2023
- From 2018 to 2023, the HOA sector grew by 12% in number of associations
- Projected HOA market size to reach $125 billion by 2028 with a CAGR of 4.2%
- 45% of HOAs implemented sustainability initiatives by 2023
- HOA-governed properties appreciated 8.5% YoY in 2022
- New HOA formations: 15,000 annually since 2020
- Industry employment: 650,000 jobs supported by HOAs in 2023
Market Size and Growth Interpretation
Membership and Demographics
- Over 53.6 million Americans resided in HOA communities as of 2021
- 29% of new homes sold in 2022 were part of HOAs
- Median age of HOA residents is 45 years, higher than national average of 39
- 72% of HOA communities are single-family home developments
- States with highest HOA penetration: Florida (51%), Colorado (50%)
- Average HOA membership household income is $120,000 annually in 2023
- 15% growth in HOA condo communities from 2015-2022
- Women comprise 52% of HOA board members nationwide
- 40 million single-family homes under HOA governance in 2023
- Urban HOAs house 35% of residents vs 65% suburban/rural
- 51% of HOAs in Florida cover 4.5 million residents
- Baby boomers represent 38% of HOA homeowners
- 62% of HOA homes are in developments built post-2000
- Hispanic residents: 18% in HOAs vs 19% national
- Average HOA community size: 250 units
- Military families in HOAs: 12% of total membership
- Dual-income households: 68% in HOA communities
Membership and Demographics Interpretation
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