Keeping an eye on HOA fees is just as important as tracking mortgage rates—especially if you’re considering a move to Florida. According to a recent report, seven out of the top ten U.S. metro areas with the steepest HOA fees (as a percentage of mortgage payments) are right here in Florida. Miami takes the crown, where the median HOA fee is $617 a month—meaning nearly 27% of the mortgage payment goes straight to the association. A lot of that comes from condos, new builds, and the rising costs of insurance and inspections.
I’ve seen plenty of buyers—especially military families—get blindsided by these numbers after falling in love with a property. This is exactly why I always dig into the real numbers before you get too attached. If you’re planning to use a VA loan or just want a straight answer about what you’ll really pay each month, make sure you’re factoring HOA fees into your search. The glossy listing price is just the start; the true cost of ownership means looking at every line on the bill.
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