Why are HOA fees different in the same complex? (2024)

FAQs

Why are HOA fees different in the same complex? ›

HOA fees can vary widely depending on a variety of factors, including your location, the level of amenities provided and even inflation. Areas with a higher cost of living and those with a higher risk of extreme weather are likely to have higher fees.

HOAs typically charge each homeowner the same fee unless there's a significant difference in the size of a home or plot of land. Condo associations typically charge fees to owners based on their ownership interest in the building, so fees are based on the size of an owner's condo and their share of common areas.

HOA fees may even differ from property to property. The size, location, and orientation of your home may all contribute to a higher or lower HOA fee than that of your neighbors.

Missouri has the highest average monthly HOA fee ($469).

This is followed by Arizona, which has a monthly HOA fee of $448.

Disadvantages of HOAs

Community standards that help maintain property values. HOA fees can increase over time. Amenities like pools, common green areas, and fitness centers. Restrictions on what you can do.

Set Dues Based on Unit Value HOA dues are usually charged one of three ways: Equal share – If there are 100 units, the total budget is divided by 100. Square footage – Units pay a pro rata share based on their size. Value – Units pay a pro rata share based on their value.

A state with relatively affordable housing, Wyoming, has the lowest median HOA fee, coming in at $100 per month.

Poinciana, Florida

The Association of Poinciana Villages, Inc. (APV) is one of the largest homeowners associations in the United States. The 47,000-acre, unincorporated, suburban community encompasses both Polk and Osceola counties perfectly nestled between Haines City and Kissimmee, Florida.

About 75.5 million Americans reside in a community that's governed by a homeowners association, representing more than 30% of the U.S. housing stock, according to the Foundation for Community Association Research .

Since the HOA keeps up with the community and upkeep, homes tend to stay in better condition than others. Another reason for this is a sense of community when there is an HOA. Many people search for an area with friendly neighbors, and a welcoming community, so many people want homes with an HOA.

What is the best part of a hoa? ›

Homeowners associations – HOAs for short – are private organizations that oversee the management of some residential communities.

Assessments are levied on a percentage basis for each unit or lot. The percentage is often based on the square footage of a unit or lot.

How Much an HOA Can Raise Fees in California. In California, the Civil Code section 5605 limits how much an HOA can increase its annual assessment. Specifically, it can't exceed 20% of the previous year's fees without a vote from the homeowners.

The correct answer is, "insurance on your personal belongings within your unit".

Here are a few state-by-state monthly HOA fee averages from the same report: California: $291.90. Florida: $240.10. Texas: $109.30.