Why are HOA Fees So High in 55+ Communities?

HOA fees (homeowner association fees) come in a wide range, and each 55+ community has a different set of guidelines for determining its HOA fees.  Generally, the more amenities, the higher the fee.   And often older communities have higher fees because as a development ages, maintenance costs increase.   Most communities have bylaws stating how high HOA fees can be raised each year.  When looking for a 55+ community, always ask about the fees.  How much are they?  What do they cover?  How many increases have there been in the last 10 years?  If the developer or sales staff will not tell you, visit on a Saturday when people are out and about and ask a resident or two about the HOA fees. 

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Walnut Creek Population:  64,000   |   Percentage Age 45 or Better:  53%   |   Cost of Living: 70% Above U.S. Average   |   Crime Rate:  Below U.S. Average

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California Stats:

Population, year 2009 estimate - 36,961,664

Persons 65 years old and over, year 2009 - 11.2%

High school graduates, percent of persons age 25+, year 2000 - 76.8%

Bachelor's degree or higher, pct of persons age 25+, year 2000 - 26.6%

Persons of Hispanic or Latino origin, percent, year 2009 - 37.0%

White persons, not Hispanic, percent, year 2009 - 47.1%

Median household income, year 2008 - $61,078

Social Security taxed?  No

Source: U.S. Census Bureau

 

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