The Foundation for Community Association Research announces the release of the “Community Association Fact Book 2016,” a comprehensive and authoritative compilation of data and analysis about the housing and residents in community associations across the United States. And according to the new data, 69 million Americans reside in community associations.
Community associations are the governing and management entities for residential communities established as condominiums, cooperatives, and planned communities. The Fact Book 2016, published annually since 2012, presents data on how common interest communities are populated, governed, managed, and operated. The Fact Book 2016 also provides detailed information about homeowners in community associations from national as well as individual state perspectives.
According to the Fact Book 2016, community associations continue to grow in number and stature in the U.S. In 2016, there were 342,000 active associations in this country, representing 69 million residents or 21.3% of the U.S. population, living in homes valued at $5.54 trillion. Individual state summaries provide detailed characteristics of community associations and their homeowners, including new Federal Emergency Management Agency (FEMA) data on condominium flood insurance coverage and flood claims. Additionally, the Fact Book 2016 includes updated data and new research that tracks ownership in these common interest communities, identifies trends in housing preferences, and measures the economic impact of the community associations housing market.
Expanded Analysis and New Information
“Community Association Fact Book 2016” sections include: expanded analysis of older (age 55+) condominium owners, providing insight into the growing housing trend of “aging in place”; historical review of federal involvement in community associations over the last 100 years; and quantitative analysis of the economic contributions and value-added benefit of community associations. This new material demonstrates that community associations are not only desirable places to live, they are economic engines that contribute to state and local economies in the form of jobs, taxes and fee payments, home construction and renovation, and maintenance of home values.
Community Association Fact Book 2016, including the National & State Statistical Review and six other detailed sections, is available to read and download at https://foundation.caionline.org. It is published by the Foundation for Community Association Research and made available without charge or registration as a resource for industry members, affiliates, analysts, and advisors.
The Foundation for Community Association Research’s mission is to provide research-based information for homeowners, association board members, community managers, developers and others. Since its inception in 1975, the foundation has built a solid reputation for producing accurate, insightful and timely information sponsoring needs-based research to help community association stakeholders address specific challenges and prepare for emerging issues, publishing best practices reports on critical topics like energy efficiency, governance, financial operations and strategic planning; providing research scholarships for graduate students and collecting historical data on the development, operation and management of common-interest communities, including surveys analyzing homeowner satisfaction and community manager compensation.
Bob Keegan, CMCA, AMS, PCAM, is the 2017 CAI-NE Chapter president.