b'New Report Highlights Key Statistics And TrendsFor U.S. Community Association Housing MarketCondominium communities and homeowners associations theU.S.NationalandStateStatisticalReviewforcontinuetobeapopularformofhousingformany Community Association Dataas part of theCommunityAmericans,accordingtoanewreportpublishedby AssociationFactBook. ThereportistheonlyoneofitstheFoundationforCommunityAssociationResearch. kindusing American Community Survey and AmericanThe2021-2022 U.S. National and State Statistical Review Housing Survey data to better align state-level communityfor Community Association Datashows that 74.2 million association research.Americans, or roughly 28% of the U.S. population, now live According to the report, California leads the nation within a homeowners association, condominium community, or 50,010 associations, home to 14.3 million residents. Floridahousing cooperative, collectively referred to as community hasthesecond-mostwith49,420,followedbyTexasassociations or planned communities.(21,680), Illinois (19,010), North Carolina (14,440), andThere are around 358,000 community associations in New York (14,170). Last year, there were roughly 355,000the U.S. as of 2021, according to the Foundation\'s estimates. communityassociationsintheU.S.,andtheFoundationHomeownersassociationsaccountfor58%63%ofthe estimatesthatnumberin2022willincreasetototal,followedbycondominiumcommunitieswith 359,000363,000. 35%40%, and cooperatives at 2%4%. Estimates show the Community associations have been growing consistent-value of homes in community associations is nearly $11 tril- ly and successfully for decades. The overwhelming majoritylion.(89%) of homeowners and condominium association resi-In the wake of the June 24, 2021, partial collapse of dentsratetheiroverallexperiencelivinginacommunityChamplain Towers South condominium in Surfside, Fla., association as very good" (38%), good" (28%), or neu-industry experts say a new focus on healthy reserve funds is tral(23%),accordingtothe2022Homeowneressential for community associations. The new report shows Satisfaction Survey, also produced by the Foundation. that about $26.6 billion in assessments are contributed to Since its inception, the Foundations Statistical Reviewassociationreservefundsfortherepair,replacement,and hasbeensourcedbycommunityassociationstakeholdersenhancementofcommonproperty,e.g.,replacingroofs, such as homeowners, board members, and management pro-resurfacing streets, repairing swimming pools and elevators, fessionals as well as attorneys, accountants, developers, mort-meetingnewenvironmentalstandards,andimplementing gage lenders, federal agencies, and public officialsall whonew energy-saving features.workwiththeFoundationandCommunityAssociationsFor more than 40 years, the Foundation has published Institute (CAI) to build better communities. 14 - Suncoast Review Fall Winter 2022 www.SuncoastCAI.com'