HOA Fees in Washington, D.C. Rose by 50 Percent Over Last Decade
According to the site UrbanTurf, citing data from Trulia, HOA fees have risen 32.4 percent nationwide over the last decade. Specifically in D.C., average fees jumped from $259 a month in 2005 to $387 in 2015.
However, the data says that the number of households paying HOA fees, which help cover maintenance costs for communal areas and amenities and sometimes utilities and taxes, in the region has slightly decreased overall.
Some other takeaways from the data?
- HOA fees tend to be $30 higher for every additional bedroom.
- HOA fees tend to be $330 higher per month for multi-family buildings with 50 or more units compared to buildings with fewer units.
- HOA fees tend to be lower the newer the property is; for example, HOA fees were $90 more expensive in homes constructed between 1960 to 1969 than those constructed 2005 and later.