Despite the occasional horror story of strict guidelines and overbearing presidents, Homeowner Associations are actually growing in popularity across the country – but by how much?
As of 2019, more than 351,000 HOA communities exist across the United States – accounting for approximately 73 million homeowners. HOAs are especially popular among newly-built homes. Approximately 77 percent of completed homes that are built for sale and 73 percent of sold homes that were built for sale are a part of a community association. This is no small number and you can be sure that many people in your target audience are a part of an HOA. To be sure you’re connecting with those homeowners in a way they will respond to, it’s important to know the demographics and to have accurate, current, data powering your outreach.
Let’s Dig Into Some More HOA Statistics
Not surprisingly, the largest concentrations of HOAs are in the states with the largest populations. The largest concentration of HOAs exists in California (49,200 associations with over 14 million members), according to the U.S. National and State Statistical Review for Community Association Data. This is followed closely by Florida (48,500 associations with over 9.5 million members) and then Texas (21,000 associations with nearly 6 million members).
Properties that are part of an HOA have a total value of more than $7.2 trillion. Those homes also contribute to $96 billion worth of assessments collected to fund the services provided by their HOA. An additional $27.4 billion goes to reserve funds.
Running those HOAs, there are another 55,000 – 60,000 association managers and another 2.4 million community association board and committee members that have contributed over 86 million hours of service annually. Meanwhile, there are approximately 8,000 – 9,000 HOA management companies that employ 100,000 – 105,000 individuals.
Homeowner Associations are no small segment, so if you’re not already targeting your messaging to connect with them and their members, you may want to reconsider. We know HOA data is difficult to gather but you can start by scheduling a meeting with a data specialist at The Warren Group to discuss how our robust HOA database can serve your business.
Homeowner Association Data Is Notoriously Difficult To Obtain From a Single Source – Until Now.
We’re giving our customers access to a robust HOA database that covers all 50 states (accounting for 2,200 counties) and dates back to 2017.
With this in-depth snapshot of HOAs across the country, you can get the following data points:
- Property Location
- HOA Name
- HOA Fee – Type and Value
- HOA Fee – Frequency
- HOA Contact
- HOA Contact Type
- Contact Information (Name, Address, Photo, and Email)
Which Industries Can Benefit from HOA Data?
HOA Data provides the insights professionals need for informed decision-making. A few examples of industries and how they can leverage HOA Data include:
- Banks, Credit Unions, and Mortgage Companies can uncover which properties belong to an HOA and analyze risk and account requirements.
- Title Insurance Companies can answer key questions about a property and the liabilities associated with its closing. Questions like: Is this property in an HOA? What are the monthly dues? Who is the HOA contact to confirm or payoff delinquent dues?
- Property Management Companies can find new business opportunities for their services by targeting associations they want to represent.
- Attorneys/Legal Professionals can identify prospective clients who may need representation in a case against their HOA.
- Home Service Providers ranging from landscapers and painters to roofers and HVAC professionals can solicit their services at the HOA level rather than to individual homeowners.
- Real Estate Investors can use HOA data to analyze their portfolio and factor into HOA costs to better project their ROI.
Customizable Solutions for Your Data Needs
We’re making HOA Data easier to obtain than ever, and now it’s fully customizable too. You have the option to license the entire database or specific data sets. A custom HOA Dataset allows you to conduct property research and create marketing lists you won’t find anywhere else. If you’re ready to start streamlining your research and marketing processes, fill out the form below and we’ll get back to you ASAP to answer any questions you have about licensing HOA data.