When $600 HOA fees become $1,300 — and leave mortgage payments in the dust

For a Colorado couple, the monthly condo fee that was $600 when they bought in 2019 now stands at nearly $1,300. That kind of jump is no outlier. Across the U.S., HOA and condo fees are rising fast — and for some homeowners, they’ve become the largest housing cost, surpassing even mortgage payments.

Median monthly condo fees hit $420 in 2025, a 29% increase since 2019, according to Realtor.com data cited by The Wall Street Journal. For single-family homes in HOAs, the median rose 26% to $63 per month. But averages mask extremes: in 2024, about 2.6 million homeowners — nearly 15% of the 17.5 million paying such fees — paid at least $500 a month.

One California homeowner told The Wall Street Journal his condo fees now total $1,500 a month. When he adds property taxes and insurance, the combined cost exceeds what he pays in mortgage principal and interest.

HOAs collect dues to maintain shared spaces and amenities, and they can impose special assessments — one-time fees for major repairs or upgrades not covered by reserves. If an HOA’s reserve fund is underfunded, the risk of a sudden, large assessment rises. Buyers are entitled to know about existing or planned assessments, but future projects may not yet be formalized.

HOAs now govern 81% of new single-family homes sold, per U.S. Census Bureau data. Before buying, prospective owners should review the HOA’s financial statements, bylaws, and CC&Rs — the rules that can restrict paint colors, rentals, pets, and more. A low reserve fund or talk of infrastructure work could signal looming cost increases.

For those already living in an HOA community, joining the board may offer a way to influence spending. But for many, the financial reality is already set: in some cases, what you pay to live in your home is no longer the mortgage — it’s the association.