CAI-NJ October 2020

NATIONAL TRENDS

NEW HOUSING REPORT SHOWS 73.9 MILLION AMERICANS RESIDE IN HOMEOWNERS ASSOCIATIONS AND CONDOMINIUM COMMUNITIES

9/22/2020 — Falls Church, VA — More Americans live in community associations today than ever before, according to new research published by the Foundation for Community Association Research. The 2019-2020 National and State Statistical Review for Community Association Data shows that 73.9 million Americans, or roughly 27% of the U.S. population, now live in a home- owners association, condominium community, or housing cooperative, collectively referred to as community associa- tions or planned communities. The annual Statistical Review is produced in conjunction with Community Associations Institute (CAI), the leading international authority in community association education, governance, and management. For more than 40 years, the Foundation has published the National and State Statistical Review for Community Association Data as part of the Community Association Fact Book. The report is the only one of its kind—using American Community Survey

(ACS) and American Housing Survey (AHS) data to better align state-level community association research. According to the new report, based on data collected in 2019, California now leads the nation with 49,200 associations. Florida has the second most associations with 48,500, followed by Texas (21,000), Illinois (18,800), North Carolina (14,100), and New York (14,000). Lasty year, there were roughly 351,000 community associations in the U.S., and the Foundation estimates that number in 2020 has grown to between 352,000 and 354,000. Community associations have been growing consistently and successfully for decades. The overwhelming majority (89%) of homeowners and condominium association res- idents rate their overall experience living in a community association as “very good” (40%), “good” (30%), or “neu- tral” (19%), according to results from the 2020 Homeowner Satisfaction Survey, also produced by the Foundation. Additional results from the Statistical Review show the CONT I NU E S ON PAGE 28

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