HOA and condo fees are recurring housing costs—not literal mortgages—and they can rise when an association’s expenses or savings needs grow. The right way to judge a fee is to compare it with what it covers, the condition of shared property, and the association’s plans for future repairs. National figures show a wide range of fee amounts, but they do not establish a uniform nationwide surge in dues.
How much do HOA fees matter to housing affordability?
In 2024, 21.6 million of the 86.6 million U.S. owned households paid a condo or HOA fee, according to the U.S. Census Bureau’s 2025 release. Costs varied widely: about 3 million households paid more than $500 a month, while about 5.6 million paid less than $50.
These fees sit alongside mortgage payments, taxes, insurance, utilities, and other expenses. The Census Bureau reported median monthly owner costs of $2,035 in 2024 for U.S. homeowners with a mortgage, compared with an inflation-adjusted $1,960 in 2023. That is a broad housing-cost measure, not an HOA-fee statistic. Census economist Jacob Fabina explained: “One way we measure housing affordability is based on how much households spend on selected costs such as mortgage payments, insurance, taxes, utilities, and various fees.”
Listing data provides another, narrower view: 43.6% of U.S. homes listed for sale in 2025 had a nonzero HOA fee, compared with 41.9% in 2024 and 34.3% in 2019, according to Realtor.com Research. These are shares of listings, not of all homes or households. Neither statistic shows how much dues rose nationally; available figures do not establish a comparable national time series isolating HOA-fee growth.
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What do HOA fees pay for?
Assessments fund the association’s shared obligations. Depending on the community, dues may pay for common-area or building insurance, exterior maintenance, landscaping, utilities, amenities, management, and contributions to savings for major repairs. If the association does not provide a service, owners may have to pay for it separately.
The Community Associations Institute (CAI), an association-industry organization, describes assessments as the primary source of income for community associations. Its policy page says: “The primary source of income for these entities is through the imposition and collection of assessments paid by homeowners within a community to maintain common elements.” CAI says budgets should account for operations, insurance, inflation, and adequate reserve funding. See CAI’s assessments policy page.
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Why are my HOA fees going up?
Dues can increase when the cost of running the association or preparing for future work rises. In a March 2023 announcement about a CAI Foundation survey, respondents identified management fees (92%), insurance premiums (91%), and maintenance services (85%) among the areas with the largest cost increases. Those percentages represent survey responses identifying cost areas; they are not the size of the increases or a national HOA-dues inflation rate. The announcement also identifies staffing, landscaping, and reserve funding among reported cost pressures. See the CAI Foundation’s March 2023 survey announcement.
A higher regular assessment can also reflect a decision to put more money into reserves. Reserves are funds set aside for major future repairs and replacements. A smaller contribution can keep current dues lower, but it may leave owners exposed if the association later needs money for work it cannot cover from savings and operating income.
Regular dues versus a special assessment
Regular dues support the adopted operating and reserve budget. A special assessment is an additional charge for an association expense or obligation. Whether a board can impose one, and whether owners must vote, depends on the association’s governing documents and applicable state law; there is no single nationwide rule established here.
Florida offers a jurisdiction-specific example. Under Florida’s 2025 condominium statute, certain associations required to obtain structural integrity reserve studies face restrictions on using those reserves for unrelated purposes. The statute warns that waiving or reducing reserves may result in unanticipated special assessments. This Florida rule should not be assumed to apply to other states or to every association. See the Florida Senate’s 2025 condominium statute.
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How do I know if an HOA has enough reserves?
There is no universal reserve balance that makes an association financially sound. A useful assessment compares the reserve study’s projected repair and replacement needs with the association’s funding plan and actual financial records. Look for a plan that addresses major shared components, rather than relying only on the current account balance.
- Request the latest reserve study and the board’s funding plan. Check whether projected work is reflected in the budget.
- Review the condition and age of shared components, deferred maintenance, and likely large repairs.
- Ask how insurance deductibles would be funded after a major claim and whether a special assessment is planned or possible.
- Read recent board minutes and notices for discussion of repairs, insurance renewals, fee increases, or assessments.
Disclosure rules and what documents a buyer can obtain vary by state and governing documents. Florida’s statute illustrates why reserve assumptions matter, but it does not set a national standard.
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How should buyers and owners compare association costs?
Compare the full cost and financial position of the community, not just the monthly number. Request the current budget, recent financial statements, fee schedule, reserve study, and relevant board minutes or notices. Then check whether dues match the services and shared expenses included, and whether the budget accounts for planned work.
- Compare coverage: Identify which insurance, maintenance, utilities, landscaping, and amenities are paid through dues and which remain your responsibility.
- Check insurance details: Review association coverage and deductibles against your own coverage needs. The CAI Foundation survey identified insurance as a reported association cost pressure; it does not recommend a personal insurance product.
- Look for upcoming costs: Check for repairs, deferred maintenance, insurance renewals, or assessments discussed in recent records.
- Compare like with like: A lower-fee community may leave more costs and upkeep to individual owners. A higher-fee community may include more services, insurance, or reserve contributions.
A fee by itself cannot tell you whether a community is affordable or well managed. Compare what you would pay separately with what the association covers, and weigh that against the shared property’s condition and the association’s capacity to meet future obligations. The available national figures do not establish a universal “good” fee or reserve level.
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