More than 73 million Americans live within community associations, which continue to be a preferred housing option in today’s overheated housing market. That number translates to about 25% of the U.S. housing stock.
Projections by the Foundation for Community Association Research indicate the number of new condominiums and homeowner associations is expected to increase by 4,500 this year. Those additions would bring the total number of common-interest communities to about 349,000 across the U.S. Included in the count are homeowners associations, condominium communities, and housing cooperatives.
The Foundation provides research and analysis on community association trends, issues, and operations. It is an affiliate of Community Associations Institute, an organization dedicated to fostering vibrant, competent, harmonious community associations.
One of the Foundation’s recurring reports is its homeowner satisfaction survey. Conducted by Zogby Analytics, the biennial report assesses perceptions about homeowners’ association experiences, governing boards, community managers and rules.
- The latest survey, conducted during 2020, revealed overwhelming homeowner satisfaction with their communities:
- 89% of residents rate their overall community association experience as very good or good (70%) or neutral (19%).
- 89% say members of their elected governing board “absolutely” or “for the most part” serve the best interests of their communities.
- 74% say their community managers provide value and support to residents and their associations.
- 94% say their association’s rules protect and enhance property values (71%) or have a neutral effect (23%); only 4% say the rules harm property values.
Notably, compared to 2018, improvements of at least 4% were found in three areas: overall experience, the role of the board, and perception of rules.
CAI, with around 40,000 members, works in partnership with 36 legislative action committees and 63 affiliated chapters within the U.S., Canada, United Arab Emirates, and South Africa. It is a global nonprofit 501(c)(6) organization.