More Neighborhoods Fall Under HOA Guidance
October 20, 2017
Twenty-one percent of the nation’s population now resides in communities governed by an association, which includes planned communities, homeowners and condo associations, or housing cooperatives, according to the National and State Statistical Review for 2016 Community Association Data. The report was published by the Foundation for Community Association Research.
Read more: How to Spot a Bad HOA
The study, conducted by the Community Associations Institute and published by the Foundation for Community Association Research, estimates that there were 342,000 community associations nationwide last year, and that number could rise as high as 347,000 this year. In 2016, homeowners associations accounted for up to 55 percent of all community associations; condo associations accounted for up to 45 percent; and cooperatives accounted for 3 percent to 4 percent. For comparison, in 1970, only 10,000 community associations existed.
Florida boasts the highest number of community associations, at 47,900. About 9.6 million of its residents live under a community association, according to CAI. California has the second highest number of community associations, at 45,400, followed by Texas (19,900), Illinois (18,600), North Carolina (13,600), and New York (13,800).
Source: Community Associations Institute
Updated: August 17, 2018