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Subject: Average HOA fees in Colorado
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TomC14
(Colorado)

Posts:12


07/30/2019 7:30 PM  
Is there a source for HOA statistics that would tell me average HOA fees for single family homes, HOA maintained paired housing and HOA maintained "patio homes" maybe by county in Colorado? I've "googled it", but so far nothing concrete.

Thanks!
MarkM19
(Texas)

Posts:461


07/30/2019 7:45 PM  
Tom,
I hope you don't expect a real number based on the limited info you provided. Questions remain.

1) How many units?
2) What amenities?
3) How much common area?
4) How Old or New is the property?
5) Is the Property Self Managed or Property Managed?

No 2 HOA/POA are exactly the same. Google will never give you an answer just because you ask for it and if it does it is not reliable.
AugustinD


Posts:2082


07/30/2019 8:07 PM  
Ditto what MarkM19.

For concrete data:

From your HOA's Declaration supplemented by walking the HOA grounds, identify what infrastructure is the HOA's responsibility to maintain.

Identify the cost of management (employees or preferably, a company under contract); the cost of routine maintenance of all infrastructure; and the cost of any utilities.

Identify all capital components (meaning that infrastructure with a life of more than one year).

Have a reserve study done by licensed reserve analysts.

Using the above information, set the assessment for each home.
RichardP13


Posts:0


07/30/2019 9:00 PM  
Very easy formula, expenses divided by number units. Typically a small community will have higher costs than a larger one.

I have had a seven unit complex with no amenities paying $180.00 per month. Another with 90 homes and two parks paying $60.00 per month.
CathyA3
(Ohio)

Posts:550


07/31/2019 5:36 AM  
Comparing fees in different communities can be misleading and may not tell you what you believe that it does.

As others noted, it all depends on what the association's expenses are:

* How many homes are in the community? How old are they? Does the association cover exterior maintenance of homes, or not? If so, to what extent?

* What utilities are paid via the fee? Are these for the homes or only for the common areas?

* Are the roads private and maintained by homeowners or maintained by the local municipality?

* What amenities does the community offer? How old are they and how well have they been maintained? Does the community derive any income from these amenities?

* What are the community's reserves like: well funded? underfunded? reserves??? (This information in particular is not easily obtained, and it is - or should be - a significant part of annual assessments. Does the community have to play catch up, or is it sitting pretty?)

* What is the community's situation regarding insurance: properly insured? trying to cheap it out? Are their rates high because of previous claims, or comparable to other communities of their size?

* Is the community paying off a loan? Are they having to rely on special assessments rather than setting the assessment fees properly?

* Has the community had to settle a lawsuit?

* Is there any kind of easement that must also be paid for out of the assessment?

All of these things can affect the amount of the assessments, and as you can tell, two communities that appear to be very similar can have very different financial situations. So use caution when coming to any conclusions based on the assessment amounts.

TimM11


Posts:324


07/31/2019 6:00 AM  
As others have mentioned, HOA dues can vary significantly from one association to the next, even in the same local area (let alone state). There are just so many factors that go into it.

One thing you could try would be looking at real estate listings in your area for HOA properties that also show the dues (Redfin is good for this). It won't tell you why the dues are set where they are, but it can provide a rough range for the area.
NpS
(Pennsylvania)

Posts:3921


07/31/2019 7:01 AM  
Posted By CathyA3 on 07/31/2019 5:36 AM
Are the roads private and maintained by homeowners or maintained by the local municipality?



If our streets were dedicated, we could cut our fees nearly in half.

Sikubali jukumu. Read all posts at your own risk.
TylerK1
(Colorado)

Posts:10


07/31/2019 8:25 AM  
Our fees in CO are $290/mo, just to bump up the average
FredS7
(Arizona)

Posts:916


07/31/2019 8:26 AM  
> Comparing fees in different communities can be misleading and may not tell you what you believe that it does.

I can see no reason to look for averages and even anecdotal experiences can be difficult to use.

Ask yourself: what am I getting? For what I am getting- is the cost reasonable? And- are there signs of large amounts of deferred maintenance?

Managerspeak "benchmarking" only makes sense if you can compare similar things.
MelissaP1
(Alabama)

Posts:8768


07/31/2019 3:54 PM  
HOA's are NOT connected. Their fees are based on the # of lots and overall operation expenses. Each HOA is different. So there is no such thing as "Average". Apples to Oranges.

Most HOA's are underfunded, apathetic, and believe in "THEY" is the HOA. It's only funded by it's members for it's members.

Former HOA President
TimM11


Posts:324


08/01/2019 8:41 AM  
Folks, he's just asking if there's a way to determine average fees/dues. There's nothing wrong with trying to determine that as long as one realizes the wherefores and whys for each HOA will be different. Like it or not, people do make these comparisons.
MarkM19
(Texas)

Posts:461


08/01/2019 8:52 AM  
TimM,
So why did you not take a wild guess at it? That is all anyone else would be doing. It is better to give no advice than bad advice. I know some people will say you get what you pay for on this site.
TimM11


Posts:324


08/01/2019 9:01 AM  
Posted By MarkM19 on 08/01/2019 8:52 AM
TimM,
So why did you not take a wild guess at it? That is all anyone else would be doing. It is better to give no advice than bad advice. I know some people will say you get what you pay for on this site.




I don't live in their state. I told them a possible way to get a rough range based on information that may be available. I don't know why they want this information, nor do I care; I was simply letting them know how they might figure it out.
MelissaP1
(Alabama)

Posts:8768


08/01/2019 4:36 PM  
What are they going to figure out? You can't gather an "Average" HOA fee in Colorado or any other state? Just based on the nature of a HOA alone, there is no such thing as "Average".

Former HOA President
CathyA3
(Ohio)

Posts:550


08/02/2019 5:28 AM  
Posted By MelissaP1 on 08/01/2019 4:36 PM
What are they going to figure out? You can't gather an "Average" HOA fee in Colorado or any other state? Just based on the nature of a HOA alone, there is no such thing as "Average".




You can compute a mathematical average, but it's just a number stripped of any meaning or context. In fact, having this number means you've gone from being uninformed to being misinformed, because you now believe that you know something when in fact you don't. It's why we have the phrase "lies, [email protected] lies, and statistics".
TomC14
(Colorado)

Posts:12


08/02/2019 8:05 AM  
Thanks for all the replies. I asked what time it was and you told me how to build a watch.
TimM11


Posts:324


08/02/2019 8:10 AM  
Posted By MelissaP1 on 08/01/2019 4:36 PM
What are they going to figure out? You can't gather an "Average" HOA fee in Colorado or any other state? Just based on the nature of a HOA alone, there is no such thing as "Average".




Of course you could get an average; it's simply a mathematical term. Get the monthly/yearly dues amounts for X number of HOAs, divide the total by X, and boom, there's your average. Or someone could calculate the median instead if they wanted.

But (and I've said this twice now in this thread), it won't tell you anything by itself. It's not a "correct" or ideal number, and nobody is claiming that it is. Yet for some reason, people in this thread keep arguing this point.


TimM11


Posts:324


08/02/2019 8:12 AM  
Posted By TomC14 on 08/02/2019 8:05 AM
Thanks for all the replies. I asked what time it was and you told me how to build a watch.




I'm sorry you got so many editorializing replies. People on this site don't always stay in their lane when it comes to simple questions.
AugustinD


Posts:2082


08/02/2019 8:30 AM  
Just saying: I think it's more like you asked for a number that is random, providing no reason for this. Several people explained why the number is random. Obviously the answers were of no use to you. This is fine. But I think responses here, reflecting IMO extensive experience typically from retirees and the generosity of volunteers, are designed to help others down the road. Good luck to you. Thank you to all who posted.
NpS
(Pennsylvania)

Posts:3921


08/02/2019 8:55 AM  
The average single family HOA in Colorado has:
- 14.73 acres of common ground
- 0.42 clubhouses
- 0.39 swimming pools
- 76.33 cabana chairs
- 0.34 exercise rooms
- 871.41 linear feet of fencing/walls
- 43.21 streetlamps
- 3,987.77 square feet of non-dedicated road surface
- 0.62 management companies
- 6.41 years of expected life on reserve components
- 163.11 units
- $73.99 monthly fees per unit

Sikubali jukumu. Read all posts at your own risk.
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