A home shopper might carefully calculate their mortgage to ensure it fits their budget, only to be hit with hidden housing costs: hundreds of dollars in monthly homeowners association fees.

Across the nation’s 100 largest housing markets, nearly 1 in 3 homeowners are paying HOA or condominium fees, with many facing additional monthly dues exceeding $500 on top of their standard mortgage, taxes and insurance payments. A new LendingTree analysis of 2024 U.S. Census Bureau data reveals that 17.5 million residents in these top metros pay HOA dues, equating to almost 33% of homeowners.

Of those subject to an HOA fee, 2.6 million, or 15%, pay at least $500 a month, which amounts to an extra $6,000 or more annually.

LendingTree supplemented its analysis of the census data with a survey conducted in February that found costs are steadily climbing among respondents. A striking 82% of current HOA residents surveyed by LendingTree reported that their fees have increased over the past three years, with 44% describing the increases as “significant.”

The financial burden is heaviest in some of the country’s more historically expensive markets. New York City topped the list, with 53.4% of HOA-paying homeowners facing monthly fees of $500 or more. Honolulu followed closely behind at 52.4%, while Miami came in third with a 39.5% rate. In total, these three metros account for a whopping 30.8% of all homeowners in the nation’s biggest metros who are paying $500 or more in HOA fees, LendingTree found.

The difference in HOA costs between regions is pronounced. In New York, the median monthly HOA fee reached $558 in 2024, compared to the $42 median fee in Fayetteville, Ark. 

While the Northeast and coastal markets lead in costs, the Sun Belt dominates in HOA prevalence. Las Vegas boasts the highest rate of participation, with 60.9% of all homeowners paying into an association. Orlando, Fla., follows at 56.4% and Houston clocks in at 55.3%. At the other end of the spectrum is El Paso, Texas, which has the lowest share of HOA-paying homeowners, with a rate of only 4.7%.

These fees take a substantial bite out of a buyer’s purchasing power. Matt Schulz, LendingTree’s chief consumer finance analyst, noted in the report that failing to account for HOA dues when calculating total monthly housing payments is “a recipe for trouble.” 

The data also highlights an income divide: 34% of surveyed Americans earning $100,000 or more live in an HOA community, compared to just 9% of those earning under $30,000.

Despite the high costs and sometimes restrictive rules — with 62% of residents saying HOA regulations limit how they use or modify their home — most HOA residents believe the system is fair. Seventy percent say their fees are justified by the benefits received, and 43% believe the association actively protects their property value.

Only 5% of respondents in LendingTree’s survey reported that HOAs actively made life worse. However, among consumers not currently in an HOA, 59% said they “actively avoid HOA properties when searching for housing.”