The number of community associations in the United States grew from 10,000 in 1970 and 222,500 in 2000 to 333,600 in 2014, according to a new report published by Community Association Institute (CAI). While final 2015 data is not yet available, CAI estimates the year will end with between 336,000 and 338,000 associations.
An estimated 66.7 million Americans—20.7 percent of the U.S. population in 2014—lived in common-interest communities, including homeowners associations, condominium communities and cooperatives, according to CAI’s National and State Statistical Review for 2014. Homeowners associations account for 51 to 55 percent of the 333,600 associations, with condominiums representing 42 to 45 percent and cooperatives 3 to 4 percent.
States with the most associations are Florida (47,100), California (43,300), Texas (19,400) and Illinois (18,150).
"Community associations are an increasingly vital segment of the U.S. housing market—and are increasingly desired by smart homebuyers," says CAI Chief Executive Officer Thomas M. Skiba, CAE. "Not only do they provide options, alternatives, facilities and amenities that most Americans could not otherwise enjoy, they protect property values by preserving the nature and character of the communities."
National surveys have repeatedly shown that overwhelming majorities of residents in associations are satisfied in their communities.
Other 2014 national data:
- The estimated value of homes in associations is $4.95 trillion.
- Associations collect an estimated $70 billion in assessments from their homeowners. Assessments fund association services, such as professional management, utilities and maintenance, and a wide variety of amenities, including pools, club houses and social events.
- About $22 billion of assessment dollars are contributed to association reserve funds for the repair, replacement and enhancement of common property.
- An estimated 30 to 40 percent of associations are self-managed, meaning they do not employ a community manager or management company.
- An estimated 50,000 to 55,000 community managers are providing professional services to associations. Many of them, commonly called portfolio managers, provide support to multiple associations.
- An estimated 2.3 million Americans serve on community association boards and committees at any one time. They perform an estimated 78 million hours of service annually; the value of their volunteer time is estimated at $1.6 billion.
Download the statistical review for additional national data, state statistics and a summary of how and why community associations work.
The information in the review was developed by Clifford J. Treese, CIRMS, president of Association Data, Inc., in Mountain House, Calif., and a past president of both CAI and the Foundation for Community Association Research.
With more than 33,000 members dedicated to building better communities, CAI works in partnership with 60 chapters to provide information, education and resources to community associations and the professionals who support them. CAI’s mission is to inspire professionalism, effective leadership and responsible citizenship—ideals reflected in communities that are preferred places to call home. Visit www.caionline.org or call (888) 224-4321.