2.6M homeowners pay $500-plus in monthly HOA fees

Millions of Americans are paying thousands of dollars in homeowners association and condo fees, an often overlooked cost when buyers budget for a mortgage, new industry data found.

Almost 18 million homeowners in the 100 largest United States metros paid HOA or condo fees in 2024, including 2.6 million who paid $500 or more a month, equal to more than $6,000 a year, according to a report from LendingTree. 

"HOA fees can quietly reshape what homeownership really costs," said Matt Schulz, LendingTree's chief consumer finance analyst. "When fees climb into the hundreds each month, it can squeeze budgets already stretched by high housing costs and inflation. That's a big reason so many buyers say they're actively avoiding HOA communities today. The convenience and amenities can be appealing, but the long-term financial trade-offs are becoming harder for many households to justify."

HOA fees were most common in Las Vegas, where 61% of homeowners paid them, followed by Orlando, Florida, at 56% and Houston at 55%, the report showed.

New York homeowners were most likely to pay the biggest premiums, with 53% owing $500 or more per month in HOA fees. Honolulu and Miami homeowners were likely to pay large premiums as well, at 52% and 40%, respectively, while less than 2% of homeowners in Provo and Ogden, Utah, and Albuquerque, New Mexico paid similar fees in comparison, according to the report.

Homeowners in New York also paid the highest median monthly HOA fees at $558, along with Honolulu at $526 and Bridgeport, Connecticut, at $424. Homeowners in Fayetteville, Arkansas, Little Rock, Arkansas, Tulsa, Oklahoma, and Oklahoma City each posted average HOA fees of less than $50 per month, the report found.

"When people consider how much home they can afford, they're generally thinking about how big of a monthly payment they're comfortable taking on," Schulz said. "The total loan amount and the interest rate are the primary factors to consider, but if you don't also take into account HOA fees, private mortgage insurance and other costs that typically are part of your monthly payment, that's a recipe for trouble." 

The hidden costs of homeownership, which included maintenance, insurance and property taxes, totaled nearly $16,000 per year as of November, according to an analysis from Zillow and Thumbtack.

HOA fees have been rising, along with hidden costs as a whole. In a survey of 2,000 consumers in the United States, LendingTree found 82% of those in HOA communities said fees have increased in the past three years, including 44% who said the rise was significant.

As a result, higher earners were more likely to live in HOA communities, as 34% of those making $100,000 or more lived in one, compared with 9% of those bringing in less than $30,000. 

Those with children younger than 18 and millennials ages 30 to 45 were also more likely to live in an HOA community.

"HOA communities certainly aren't just for higher-income buyers, but I'm also not surprised that those with bigger incomes are more likely to face HOA fees," Schulz said. "For example, many master-planned communities, which can come with higher price tags, have HOAs to help maintain amenities such as pools and clubhouses or to keep the neighborhood looking manicured and clean."

The number of HOA communities has increased in each year since at least 2010. There were 373,000 communities in 2025, accounting for 29.6 million housing units and 78.1 million residents, according to data from the Foundation for Community Association Research.