Condo or Homeowners Association Fees Topped $500 Monthly for About 3 Million Households
Around 21.6 million of the nation’s 86.6 million owned households in the United States paid either a condo or homeowners association (HOA) fee in 2024, according to the 2024 American Community Survey (ACS) 1-year estimates released today.
The ACS has long asked about condo fees. But the 2024 ACS 1-year estimates include information on condo and homeowners who paid HOA fees, too.
The amount of condo and HOA fees differed widely between and within states. In 2024, about 5.6 million or 26% of homes paid less than $50 a month and about 3 million homes paid more than $500 a month.
Homeowner associations are nonprofit organizations that manage housing, often in planned or gated communities. HOAs collect fees to manage common areas and amenities. Condo fees are similar but cover more shared services and structural features like roofs and hallways.
HOAs are more prevalent than condos in the United States and their fees are typically lower. Adding the HOA component to the ACS provides a more complete picture of the cost of homeownership.
States Where High Share of Households Pay Condo or HOA Fees
The 21.6 million households that paid condo and HOA fees in 2024 were not evenly distributed across the country.
Some states like Arizona, Florida, and Nevada that typically attract a lot of retirees to planned communities had higher proportions of homeowners who reported paying condo/HOA fees.
Others with among the smallest shares: Maine, North Dakota, Rhode Island, South Dakota, and Wisconsin.
Share of U.S. Owned Households That Paid Condo/HOA Fees: 2024
How Much Did Homeowners Spend on Fees?
The amount of condo and HOA fees differed widely between and within states. In 2024, about 5.6 million or 26% of homes paid less than $50 a month and about 3 million homes paid more than $500 a month.
The national median (half were less and half more) monthly fee was $135. But a large share of homeowners in some states — most notably New York (64%) — reported paying more than $500. So did about half of homeowners in the District of Columbia and in Hawaii.
Mortgages May Mean Lower Fees
There was a difference in the fee amounts paid by households with and without a mortgage.
In 2024, U.S. households with a mortgage paid a median monthly fee of $120 and those without a mortgage paid $184. This was reflected across every state: Nonmortgaged households either paid a greater monthly condo/HOA fee or there was no statistical difference.
In no state did homeowners without a mortgage pay more than those with a mortgage. This may reflect different living arrangements like homeowners downsizing or moving to communities with more amenities, such as shuttle services and recreational centers.
Condo/HOA Fees by Mortgage Status for Select States: 2024
HOA and condo fees homeowners pay are only one of the monthly housing costs captured in the ACS. The survey also provides data on insurance costs, property taxes, mortgage and utilities expenses, all of which, including condo/HOA fees, provide a more complete accounting of the costs of homeownership.
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