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There Are More HOAs in the United States Than Ever Before, Data Shows

by | Jun 12, 2024 | Blog

Did you know that around 22 new Homeowners Associations (HOAs) are established daily? This translates to about 8,000 new HOAs each year!

Meanwhile, in 2021, 82.4 percent of new homes sold were part of HOA communities, marking a 2.74 percent increase from the previous year, according to iPropertyManagement. These homes within HOAs represent a significant portion of the housing market, with their collective value estimated at $9.2 trillion. Additionally, 66.9 percent of new homes completed in 2021 were also within HOA communities, showing a growth of 2.92 percent compared to 2020.

Why are Homeowner Associations So Important?

HOAs are pivotal in the mortgage ecosystem. Identifying whether a property belongs to an HOA and the associated dues is essential in assessing a borrower’s risk. Lenders must account for HOA fees in their underwriting calculations, alongside property taxes and insurance, to pre-qualify candidates. Post-mortgage funding, HOAs can significantly affect the mortgage status, especially in the 22 super-lien states where HOA liens can supersede first-mortgage holders. It’s imperative for servicers and investors to ensure that HOA fees are current. Access to HOA indicators and liens is vital for managing your portfolio, regardless of your position in the real estate transaction process.

Creating a comprehensive property and borrower profile involves integrating various data types from multiple sources. Combining assessor, recorder, and HOA data is necessary to produce a thorough report. To keep costs down, your data acquisition strategy should streamline the process of ingesting, linking, and managing complete assets, while presenting top-tier industry data.

Collecting and managing HOA data is challenging and requires a team of specialists to ensure accuracy and completeness. Partnering with a trustworthy vendor that supports your goals is essential.

Simplified Access to Homeowner Association & HOA Contact Data

The Warren Group’s HOA data aids mortgage and real estate professionals, along with value-added resellers, by providing comprehensive HOA contact data and liens across all 50 states and the District of Columbia.

Our HOA contact data includes:

  • Property Location
  • Owners Mailing Address
  • HOA Name
  • HOA Fee – Type and Amount
  • HOA Fee – Frequency
  • HOA Contact
  • HOA Contact Type
  • Contact Information (Name, Address, Photo, and Email)

To learn more about HOA data – or any other datasets offered by The Warren Group – fill out the form below.