Community Associations Continue to Flourish in the U.S.
As the pandemic continues to disturb our society, Condominium Associates takes every precaution and action to make sure your community association runs smoothly. We continue to monitor the reopening of onsite offices and pools. Some support staff continues to work remotely to be safe. Fortunately, our productivity did not slow down, nor did our work's quality suffer due to these changes. We have transitioned online Board Meetings via ZOOM. We are going through the proper procedures for utilizing electronic signatures for voting purposes.
Community Associations Continue to Grow in the U.S.
It's no wonder, then, that around 73.9 million Americans—which is more than 25% of the U.S. population—— live in a homeowner association, condominium community, or housing cooperative. This fact comes from the 2019-2020 U.S. National and State Statistical Review for Community Association Data, published by the Foundation for Community Association Research.
According to the new report, based on data collected in 2019, California leads the nation with 49,200 associations, which are home to 14 million residents. Florida, however, is the country's second-largest state with 48,500 associations, followed by Texas (21,000), Illinois (18,800), North Carolina (14,100), and New York (14,000). The report details the top reasons for the growth of associations.
Their Value of Collective Management
Community association boards are composed of democratically elected homeowners who voluntarily serve their communities. The research shows that 2.4 million board and committee members in the U.S. perform 86.7 million volunteer service hours annually.
They are Privatizing Public Functions
Associations assume many responsibilities that traditionally belonged to local and state government, such as road maintenance, snow and trash removal, and stormwater management. According to the report, homeowners contributed $27.4 billion to association reserve funds for the repair, replacement, and enhancement of common property (e.g., swimming pools, elevators, and resurfacing streets).
They are Expanding Affordable Housing
Since the 1960s, condominiums have tended to serve as lower-cost entry housing, especially for first-time homebuyers. Condominium communities account for 35–40% of the reported total of community associations.
Produced in conjunction with the Community Associations Institute, this research is more than 40 years old. The Foundation has published the U.S. National and State Statistical Review for Community Association Data as part of the Community Association Fact Book. The report uses the American Community Survey (ACS) and the American Housing Survey (AHS) data to align state-level community association research better.
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Please don’t hesisate to reach out to us if you have any questions or concerns about your association, We are here to make your community the best it can possibly be.
