HOA Fees Now Top $6K Annually For Millions of Homeowners [LendingTree Report]

Many buyers budget for a mortgage, only to get hit with an extra $400–$500 a month in HOA fees — a common but often overlooked cost that can significantly impact affordability. 

Our latest report shows nearly 1 in 3 homeowners in the 100 largest U.S. metros pay these dues. Here’s a closer look at where these fees are most common and most costly.

• 17.5 million homeowners paid HOA or condo fees in 2024, including 2.6 million paying $500+ a month — or $6,000+ a year.
• 53% of New York HOA homeowners pay $500+ monthly, followed by Honolulu (52%) and Miami (40%), versus under 2.0% in Provo and Ogden, Utah, and Albuquerque, N.M.

• HOA fees are most common in Las Vegas (61% of homeowners), followed by Orlando, Fla. (56%) and Houston (55%).
• 82% of HOA residents say fees have increased in the past three years. However, 43% say HOAs protect their property value. Meanwhile, 62% say HOA rules have limited how they enjoy their home, and 46% have been fined or cited by their HOA.
   
• 73% of non-HOA residents wouldn’t choose one — including 88% of baby boomers and 80% of Gen Xers — while 59% actively avoid them.

You can check out the full report here: https://www.lendingtree.com/home/mortgage/hoa-survey/

LendingTree's Chief Consumer Finance Analyst, Matt Schulz, had this to say: 

“HOA fees can quietly reshape what homeownership really costs. For millions of Americans, that monthly payment isn’t small, and it’s rising fast. 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.”