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HOA fees rose the most in these top metros

One city saw increase of more than 75%

Wooden block house on money

The median home price is on the rise across the U.S., but it isn’t the only thing rising, according to a report from Trulia using data from the U.S. Census Bureau.

Homeowners must also consider other costs such as property taxes or homeowner association fees. And the rate of increase for HOA fees leaves rising home prices in the dust. HOA fees increased 32.4% from 2005 to 2015, compared to 15.1% for the median home price.

And those fees are becoming even more important, and could now even effect homeowners’ credit scores. Last May, Sperlonga Data and Analytics, a data aggregation business for non-standard credit data sources, announced their agreement to report to Equifax, a global insights provider, information on HOA payments and account status data.

Trulia’s study found HOA fees are more expensive in older housing units, decreasing about $90 for homes built after 2005. And, of course, larger homes come with larger HOA fees. On average, homeowners pay about $30 more in fees for each additional bedroom in the home.

And they are not to be underestimated. In some metros such as Tampa, Florida; Houston, Texas and Fort Lauderdale, Florida, HOA fees make up over 40% of monthly housing costs.

And in New York households paid an average of $571 per month in HOA fees.

Click to Enlarge

hoa

(Source: Trulia)

Here are the top 10 metropolitan areas with the most change in the amount of HOA fees paid each month:

10. Seattle-Bellevue-Everett, Washington – 46.1%

Monthly HOA fees in 2005: $248

Monthly HOA fees in 2015: $363

Washington

9. Philadelphia, Pennsylvania – 47.6%

Monthly HOA fees in 2005: $304

Monthly HOA fees in 2015: $449

philadelphia map

8. Portland-Vancouver-Hillsboro, Oregon-Washington – 48.8%

Monthly HOA fees in 2005: $205

Monthly HOA fees in 2015: $306

Portland city skyline

7. Columbus, Ohio – 48.8%

Monthly HOA fees in 2005: $151

Monthly HOA fees in 2015: $225

Ohio

6. Washington-Arlington-Alexandria, D.C.-Virginia-Maryland-West Virginia – 49.4%

Monthly HOA fees in 2005: $259

Monthly HOA fees in 2015: $387

States

5. Tampa-St. Petersburg-Clearwater, Florida – 49.8%

Monthly HOA fees in 2005: $236

Monthly HOA fees in 2015: $353

florida

4. Providence-Warwick, Rhode Island-Massachusetts – 50.5%

Monthly HOA fees in 2005: $195

Monthly HOA fees in 2015: $294

Providence, Rhode Island

3. Miami-Miami Beach-Kendall, Florida – 52.8%

Monthly HOA fees in 2005: $272

Monthly HOA fees in 2015: $415

MiamiPhoto.jpg

2. Baltimore-Columbia-Townson, Maryland – 68.4%

Monthly HOA fees in 2005: $169

Monthly HOA fees in 2015: $284

Baltimore city

1. Virginia Beach-Norfolk-Newport News, Virginia-North Carolina – 75.4%

Monthly HOA fees in 2005: $150

Monthly HOA fees in 2015: $263

Virginia Beach

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