By Adam Graham | Fixr
Homeowners Associations (HOAs) are found in communities across the nation and are continuously growing in numbers. We have gathered data from the US Census to highlight the increase in the amount of new single-family homes that are part of an HOA over the last decade. Not everywhere has the same rules and fees, however. Every HOA adheres to its own regulations and depending where you live will determine what the cost of being part of one is. Therefore we have also created a map showing the US-metro areas which have the highest HOA fees, and we explore both the advantages and disadvantages of belonging to an HOA.
A Brief History of Homeowners Associations
As World War II came to an end in 1945, small suburban communities began popping up across the US with the intention of offering low-interest homes to veterans returning home while simultaneously putting rules and regulations into place to govern these new communities. These very early forms of Homeowners Associations were the precursor to the more formalized HOA model we know today. This more modern model began to take hold in the 1960s when suburban life became more popular and communities were built with offerings of shared common spaces and preservation of property value in mind.
Since those early days, HOA models have continuously adapted to the needs and wants of the residents living within their communities, and today a typical HOA establishes a set of rules (formally referred to as Covenants, Conditions, and Restrictions [CC&Rs] & Bylaws) along with a monthly fee to cover the cost of any amenities or offerings the association provides. An HOA’s CC&Rs will vary depending on the community it governs and this in turn greatly affects the monthly fees that will be levied.
