HOA fees jump 30%
Homeowners’ association fees are up roughly 30% since the pandemic, a surge that’s squeezing budgets and making condos less affordable in many markets. (the-independent.com) That matters if you’re budgeting for a move or renovation — rising recurring fees change long‑term carrying costs more than a one‑time mortgage estimate does. (the-independent.com)
A condo that looked affordable in 2019 can now come with a monthly fee that is almost a car payment. Realtor.com data cited by The Wall Street Journal shows the median condo fee rose 29% from 2019 to 2025, hitting $420 a month. (independent.co.uk) The jump is not just a condo story. The same reporting says median homeowners’ association fees for single-family homes rose 26% over that period, reaching $63 a month. (independent.co.uk) Those fees now touch a huge slice of the country. The U.S. Census Bureau says 21.6 million of 86.6 million owner-occupied homes paid a condo or homeowners’ association fee in 2024, which works out to about 1 in 4 homeowners. (census.gov) The national median across all of those homes was $135 a month in 2024, but the top end is what changes budgets fast. Census data shows about 3 million households paid more than $500 a month, while about 5.6 million paid less than $50. (census.gov) A homeowners’ association fee is basically the building’s group bill split into monthly pieces. It pays for roofs, elevators, pools, landscaping, trash service, security gates, and insurance on shared property that no single owner can maintain alone. (census.gov) The reason the bill is climbing is not mysterious: the same things that got pricier for everyone else got pricier for associations too. Community Associations Institute says 91% of community associations reported insurance premium increases, and 17% saw increases above 100%. (caionline.org) When a board does not collect enough each month, the backup plan is a special assessment, which is a one-time charge on top of regular dues. Community Associations Institute says reserve studies are meant to prevent that by mapping future repair costs before the roof or facade becomes an emergency. (caionline.org) Lenders have also become stricter about whether condo buildings are financially healthy. Fannie Mae says condo projects have to meet project eligibility standards, and Freddie Mac’s guide requires established condominium projects to meet budget and reserve rules for many conventional loans. (fanniemae.com) (freddiemac.com) That creates a squeeze for owners and buyers at the same time. If an association raises dues to build reserves and pay insurance, monthly carrying costs rise; if it does not, financing can get harder and buyers can disappear. (fanniemae.com) (freddiemac.com) The pressure is showing up in the market already. Redfin reported in 2025 that there were 72% more condo sellers than buyers in the United States, a mismatch it tied to rising dues, insurance costs, and reserve requirements weighing on demand. (newsnationnow.com) For anyone comparing a condo with a detached house, the mortgage payment is no longer the whole story. A place with a lower sticker price but a $420 monthly fee can cost more to carry over five years than a pricier home with no association at all. (independent.co.uk)
