Washington ranks 9th in number of community associations, with more growth expected
February 6, 2020
Washington state has an estimated 10,450 community associations encompassing more than 2.3 million residents, according to 2018-2019 National and State Statistical Review for Community Association Data, published by the Foundation for Community Association Research. That number puts it 9th among U.S. states.
Continued growth is expected.
Between 2,500 and 3,000 community associations will be created in the U.S. during 2020, according to estimates from the Community Associations Institute (CAI), an international membership organization. The anticipated growth includes planned communities (also called a Homeowners Association of HOA), condominium communities, and housing cooperatives.
CAI predicts around two-thirds (66%) of all new home construction in 2020 will be part of a community association. By year-end, the total number of U.S. community associations will range between 352,000 and 354,000.
Currently, about 25% of the U.S. population lives in a community association, according to the latest data. Florida leads the nation with 48,250 associations encompassing 9.5 million residents. Rounding out the top five states are California, which ranks second with 48,150 associations, followed by Texas (20,050), Illinois (18,700), and North Carolina (14,000).
Other research from the Community Association Fact Book indicates the value of homes in community associations is nearly $6.28 trillion. Collectively, these associations collect around $96 billion in annual assessments from homeowners to fund essential maintenance and provide for reserve funds.
CAI claims more than 40,000 members in 64 chapters worldwide. The association provides information, education and resources to homeowner volunteers who govern communities and the professionals who support them. These members include community managers, association management firms, and others who provide products and services to associations.