Community Associations Institute (CAI) estimates that in 1970 there were 10,000 community associations nationwide. Today, there are 260,000 community associations housing 50 million Americans. A community association functions as a business, a governance structure, and a community. Traditionally, these functions were applied as follows: business meant austerity; governance meant compliance; and community meant conformity. According to the U.S. Census Bureau, the American Housing Survey, and IRS Statistics of Income Reports, associations today are seeking prudence in business, justice in governance, and harmony in community to provide an enjoyable, vibrant lifestyle for homeowners and residents.
- Nearly one out of every six Americans (50 million) lives in a community association.
- There are an estimated 260,000 community associations in the United States providing 19.9 million housing units.
- Between 9,000 and 11,000 new community associations are formed every year
- In the largest metropolitan areas, more than 50 percent of new home sales are in community associations.
- Community associations can range in size from as small as a two-unit associations to large-scale, master planned communities with more than 30,000 units.
- 1.25 million Americans serve on a community association Board.
- Community associations have become increasingly popular because they help protect home values, provide affordable ownership opportunities, help meet the increased privatization of services as local governments cut back, and are efficient land planning, land use, and land conservation techniques.
- The real estate value of all community associations and their units exceeds $2.25 trillion, approximately 17-19% of the value of all U.S. residential real estate.
- The estimated annual operating revenues for all community associations in the U.S. is more than $35 billion. Most of this is spent in the associations’ local economies for products and services.