Millions of Homeowners Face Steep HOA Fees

New report finds 2.6M U.S. homeowners pay $500+ monthly in HOA costs

Apr. 1, 2026 at 8:24pm

Got story updates? Submit your updates here. ›

A new LendingTree report has found that nearly 18 million homeowners in the 100 largest U.S. metros paid HOA or condo fees in 2024, with 2.6 million paying $500 or more per month, equal to over $6,000 annually. The highest HOA fees were found in cities like New York, Honolulu, and Miami, while areas like Provo, Ogden, and Albuquerque had far lower rates.

Why it matters

HOA fees can significantly impact the true cost of homeownership, often catching buyers off guard. As housing and inflation costs rise, these additional monthly expenses are squeezing many household budgets. The report highlights how HOA communities, often seen as desirable, are becoming less accessible for lower-income buyers.

The details

The report found that 2.6 million homeowners in the 100 largest U.S. metros paid $500 or more per month in HOA or condo fees in 2024. New York had the highest percentage of homeowners (53%) paying $500+ per month, followed by Honolulu (52%) and Miami (40%). In contrast, less than 2% of homeowners in Provo, Ogden, and Albuquerque paid similar fees.

  • The report analyzed data from 2024.

The players

LendingTree

A leading online loan marketplace that provides data and analysis on consumer finance trends.

Matt Schulz

Chief consumer finance analyst at LendingTree.

Got photos? Submit your photos here. ›

What they’re saying

“HOA fees can quietly reshape what homeownership really costs. When fees climb into the hundreds each month, it can squeeze budgets already stretched by high housing costs and inflation. That's a big reason so many buyers say they're actively avoiding HOA communities today.”

— Matt Schulz, Chief consumer finance analyst

“When people consider how much home they can afford, they're generally thinking about how big of a monthly payment they're comfortable taking on. The total loan amount and the interest rate are the primary factors to consider, but if you don't also take into account HOA fees, private mortgage insurance and other costs that typically are part of your monthly payment, that's a recipe for trouble.”

— Matt Schulz, Chief consumer finance analyst

What’s next

The report highlights the growing impact of HOA fees on homeownership affordability, which could lead to further research and policy discussions around regulating or providing more transparency around these costs.

The takeaway

As housing and inflation costs rise, the hidden expenses of HOA fees are becoming a significant barrier to homeownership, especially for lower-income buyers. This report underscores the need for greater awareness and consideration of these additional monthly costs when budgeting for a home.