The Foundation for Community Association Research has just released its Community Association Fact Book 2018, which is full of HOA/condo data and statistics. The purpose of the work is to provide “research-based information to all community association stakeholders–homeowners, board members, management professionals as well as attorneys, accountants, developers, mortgage lenders, federal agencies, public officials and others–all who work with the Foundation and CAI to build better communities.”
If you haven’t reviewed the Fact Book before, the information is fascinating. Both national and state-by-state information can be found. For instance, in 1970, there were 10,000 community associations in the U.S. Today there are 347,000! 73.5 million people reside in HOAs or condos in the US, and 61% of new housing is being built in associations. Over 2.5 million board and committee members volunteer to make their associations a better place to live!
By
the way, Zogby Analytic surveys continue to show that 85% of HOA/condo residents
rate their “overall community association experience” as positive or neutral.
NORTH CAROLINA HOA/CONDO SPECIFICS
State
HOA/condo statistics are also interesting. North Carolina ranks 5th
among states in its number of community associations (behind only FL, CA, TX,
and IL). Almost 2.7 residents live in 14,000 associations.
Other
interesting NC HOA/condo facts:
- Number of board
and committee members – 96,000 - Value of homes in
community associations – $258 billion - Value of board and
committee volunteer time – $88 million - Association homes
as percentage of all owner occupied homes – 42% - Association population
as percentage of total population – 26%
SOUTH CAROLINA HOA/CONDO SPECIFICS
South
Carolina ranks 16th among states in its number of community
associations. Some 1.3 million residents live in 7,000 associations.
Other
interesting SC HOA/condo facts:
- Number of board
and committee members – 47,000 - Value of homes in
community associations – $128 billion - Value of board and
committee volunteer time – $43.5 million - Association homes
as percentage of all owner occupied homes – 40% - Association population
as percentage of total population – 26%
For more information, the full 2018 Community Association Fact Book can be found at https://foundation.caionline.org/publications/factbook.
For state-specific information, visit the North Carolina State Summary or South Carolina State Summary pages.
For state-specific information on the economic contributions and value-added benefits of community associations, visit the North Carolina Association Economic Contributions or the South Carolina Association Economic Contributions pages.
Many thanks to the Foundation, the Community Associations Institute, and CAI Past President Clifford J. Treese for putting together this helpful information.
Author: Jim Slaughter
Articles have been Reprinted with permission from Black, Slaughter, Black.
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