HOA Associations and board members, by the numbers

Community associations equal Big Business. Reflect on the statements below:

- In excess of 1.7 million volunteers act as community association board members, and another 400,000 act as committee members. There are 230,000 yearly association meetings with freely-held elections and another nearly 2.5 million board meetings during the year where owners argue and guide their community’s future. To aid boards, more than 1.4 million committee meetings are held every fiscal year. The monetary worth, in the year 2000, of this volunteer participation approached $275 million. The dollar equivalent for volunteer time, based on data from the 1998 Economic Report to the President, comes out to $15.39 per hour volunteered.

- Community association boards oversee the assessment of over $34 billion in annual levies and hold investment accounts of another $35 billion in reserve.

- Associations provide dwelling space for almost 60 million people in homes that have an approximate resale value of nearly $2.5 trillion. 

- These owners lay out an additional $25 billion for improvements to home interiors and an estimated $85 billion for interest on mortgages and real estate taxes.