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Increases in home-insurance costs mean that HOA fees are on the rise as well. ... of a retiree living on a fixed income. Florida’s homeowners ... Texas (14.6 percent); Sacramento, California (13 ...
Climbing costs associated with owning a condo in Florida, namely surging insurance and HOA costs in the aftermath of the collapse of the Champlain Towers South condominium in Surfside, experts say.
According to data from Condo Vultures, the tri-county area had 12,925 condo associations as of December 2023 — that’s about 26% of the 50,000 condo associations in Florida.
A homeowner association (or homeowners' association [HOA], sometimes referred to as a property owners' association [POA], common interest development [CID], or homeowner community) is a private, legally-incorporated organization that governs a housing community, collects dues, and sets rules for its residents.
Insurance costs have also skyrocketed throughout Florida for condos and single-family homes, with a Redfin survey revealing three-quarters of all Florida property owners indicated premiums were up.
Boston. Mean Monthly HOA Fee: $444 Population in Massachusetts living in HOA: 23.8% Average Annual Property Tax in Massachusetts: $4,535 Find Out: Cheapest Places To Buy a Home in Every State
Florida condominium owners are looking at higher costs from condo associations in the new year, a consequence of a safety law passed by state lawmakers in 2022. It requires associations to have ...
Well, increasingly high homeowners association fees and soaring insurance costs are making it so nobody wants to deal with a condo anymore. In Florida, HOA fees are especially a problem.