Article Courtesy of The Palm Beach Post
By Jeff Ostrowski
Published March 19, 2017
South Florida is synonymous with condo commandos and gated
golf-course communities, so it’s no surprise that our region tops Trulia’s list
of metro areas with the largest share of homeowners who pay fees to homeowners
Among the nation’s 50
largest metro areas, Broward County is No. 1, with 32.5 percent
of households paying HOA fees. Palm Beach County is next at 29.8
percent, followed by Miami-Dade County at 27.6 percent.
By contrast, HOA fees are practically unheard of in Charlotte,
Dallas, Houston, Indianapolis, Kansas City, Pittsburgh and
Sacramento. In those metro areas, fewer than 5 percent of
homeowners paid HOA fees in 2015, Trulia says in its report,
South Florida’s market is skewed by the region’s large share of
condos and townhouses. Meanwhile, South Florida’s percentage of
homeowners paying HOA fees fell over the past decade. In Palm
Beach County, nearly a third of homeowners were part of HOAs in
2005, Trulia says.
Running community pools, golf courses and guardhouses doesn’t
come cheap. From 2005 to 2014, HOA fees rose 32 percent, outpacing the 15
percent jump in the median U.S. home price, Trulia said.
New York had the nation’s highest condo fees at an average at $571 a month,
followed by Long Island’s $498, San Francisco’s $464, Philadelphia’s $449,
Miami’s $415 and Palm Beach County’s $399 a month.