HOA fees are becoming more common — and costly
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More houses for sale in 2024 came with homeowners association fees, and those dues rose from 2023, according to a recent report.
Why it matters: For many homebuyers, HOA fees are another financial hurdle in an already tough market.
The big picture: HOA dues typically cover maintenance and amenities like pools and gyms, plus other costs that keep a community running.
- They're common in areas full of condos, townhouses and newly built single-family homes, per the report by Realtor.com.
- Friction point: HOAs often enforce strict rules on everything from holiday decor to lawn care, with fines for residents who fail to comply.
By the numbers: Nationwide, 40.5% of homes listed for sale on Realtor.com in 2024 had HOA dues, up from 39.2% in 2023.
- The median monthly fee climbed to $125 from $110.
Reality check: Dues can stretch upwards of hundreds of dollars per month, adding an eye-watering expense on top of high home prices and mortgage payments.
Between the lines: To avoid surprise fee hikes, experts say, condo shoppers should ask about reserve studies, which assess whether an HOA has enough money set aside for future upkeep.
The bottom line: If you want to buy a home without HOA dues, try looking in Charleston, South Carolina, which has the lowest percentage of home listings with HOA fees — while Myrtle Beach, South Carolina, has the highest, per Realtor.com 2024 data.
