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News & Press: General

NC is #5 in Community Associations across US as national growth continues

Thursday, October 19, 2017  
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New report: 21% of the US population now live in a community association, condominium, or co-op.

These 69 million Americans live in homeowners associations, condominiums and co-ops, according to the Foundation for Community Association Research, who published the report in conjunction with CAI. Its is estimated the number of U.S. community associations in 2017 is between 345,000 and 347,000 with homeowners associations accounting for about 51–55% of the totals, condominiums for 42–45 %, and cooperatives for 3–4 %.

North Carolina's figure is reported at 13,900 community associations. Florida continues to lead with 47,900 associations home to 9.6 million residents. California is the country’s second highest state for community associations with 45,400 communities followed by Texas (19,900), Illinois (18,600), NC and then and New York (13,800).

Additional results show the value of homes in community associations is nearly $5.5 trillion, and $88 billion in assessments is collected annual from homeowners to fund essential maintenance.

To view the full report, visit www.foundation.caionline.org.


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