HOA Fees Have Inflated 20% in Portland, Oregon since 2020

Many condo complexes and high rises in Portland, Oregon have high monthly HOA fees can cost as much as half the monthly mortgage payment (or more). Many condos and townhomes now have HOA fees well over $1,000 a month. Needless to say, it is important to pay attention to HOA fees when buying or selling real estate in Portland, especially considering recent inflation driven HOA costs.

HOA Fees are important. You can lose your home.

It is crucial to have some sort of way to compare HOA fees within a greater metro. If you’re living in a HOA now, how would you know if your HOA is charging too much (or even not enough)? If you’re shopping for a condo or home with an HOA, how can you tell what HOA monthly fee is reasonable? That is why we provide these annual average HOA cost reports and have created a dynamic home search website that can search based on HOA fees amounts and provides a unique search filter we call, “Best Priced Condo,” you can’t find anywhere else online (I’ll explain more later in the article).

Whether you’re looking for a single-family home in the Portland Real Estate Market or prefer something the Portland Condo Market has to offer, you’ll want to be as informed as possible about HOA fees.

Did you know that in Oregon if you don’t stay current on your HOA fees, the HOA can legally foreclose on your home? They can.

Why do HOA fees vary so widely?

Mismanagement. The reason for such a wide variety in high and low HOA fees depends on several factors, but it primarily comes down to HOA mismanagement. In some cases, the HOA collected too-low fees for too long and didn’t set aside enough to cover future costs for maintenance and other item it claimed to be responsible for. In other cases, management may not have correctly projected future costs for maintenance or repairs and are attempting to remedy that with higher than average HOA fees.

Amenities. HOA fees might cover the cost of replacing your roof, siding, windows. It might carry extensive insurance on your property. It could be covering some or all of your utility bills. It could be taking care of all the landscaping. It might maintain a pool, a gym, or an entire rec. center. HOA amenities vary widely and many are desirable.

Criteria for Calculating Average HOA Monthly Fee Reports

Some HOAs simply exist to enforce local bylaws, like not letting homeowners paint their homes purple or park cars on their lawns. These HOAs may only charge $50 a year and are not useful for our purposes.

A significant HOA is one, in my opinion, that covers exterior maintenance. This means they will replace and maintain at least the roof and siding. When an HOA covers exterior maintenance, in my experience, they also cover many utilities and provide other amenities. They are a full service HOA.

So for our calculations we are looking at homes, townhomes, and condos with HOAs that sold from 01/01/2022 to 07/01/2022 and at a minimum cover exterior maintenance for all of their homeowners.

HOA Monthly Cost Averages in Portland 2022

From 01/01/2022 to 6/30/2022, the first half of the year, 913 homes, condos, or townhomes sold with HOAs that at covered exterior maintenance or more.

For these 913 properties, the average size was 1,174 sq. ft. and the average HOA monthly fee was $483.10. This means the average monthly HOA fee in 2022 was .41 cents per sq. ft.

This means HOA monthly fees in Portland, Oregon have inflated about 20% since 2022.

Portland, Oregon HOA Monthly Costs in 2022, Compared to 2021 and 2020

YearSq. ft. AverageHOA Monthly AverageHOA Cost Sq. Ft.
20221,174$483.10.41 cents
20211,186$439.37 cents
20201,181$384.33 cents
Data from RMLS.

Examples of HOA Cost Averages in Portland 2022

HOAs typically charge their monthly fees based on how much sq. ft. the unit or home has in comparison to other units and homes within the same HOA complex. So if you’re trying to gauge if the HOA you live in or the property you’re looking to buy has a reasonable HOA monthly fee or not, use the 2022 average HOA monthly price per sq. ft. number of .41 cents a month per sq. ft.

Examples based on .41 cents a month per sq. ft.

  • 500 sq. ft. property to have a monthly hoa fee of: $205
  • 750 sq. ft. property to have a monthly hoa fee of: $308
  • 1000 sq. ft. property to have a monthly hoa fee of: $410
  • 1250 sq. ft. property to have a monthly hoa fee of: $513
  • 1500 sq. ft. property to have a monthly hoa fee of: $615
  • 2000 sq. ft. property to have a monthly hoa fee of: $820
  • 2500 sq. ft. property to have a monthly hoa fee of: $1025

Use Our Fully Searchable Map of Portland Homes for Sale With Reasonable HOA Fees

Our powerful searchable map allows you to search for HOA fees within your budget. Simply enter your preferences—like location, square footage, price range, etc. Then click “Filters” on the far right of the filters bar at the top and select “HOA Monthly.” Here you can set your preferred fee range.

search for homes and condos with hoa fees

If you want to look more specifically at condos, enter your preferences, then select the “Best Priced Condo” from the dropdown menu along the right-hand side of the screen. This powerful tool will show you the listing price for the condo itself, and just to the right of it, you’ll see a second price, which is the asking price plus five years’ worth of HOA fees and property taxes to give you a quick snapshot of which condo is truly the best deal.

Expert Portland Real Estate Agents

Our team has successfully completed over 2,000 home sales in the Portland metro area. Hundreds of those had extensive HOAs we’ve helped our clients navigate and research. Whether you’re buying or selling, our top 1% buyer’s agents and our top 1% seller’s agents are here to help you today. Call our direct lines or chat with the bot on our site. We look forward to working with you!

August 24, 2022
AUTHOR

Stephen FitzMaurice

Stephen FitzMaurice, Realtor is a top 5% real estate agent in the U.S. A Principal Broker in Oregon, Managing Broker in Washington, he has been licensed since 2003 for residential real estate sales. Call his team in Oregon at 503-714-1111 or in Washington at 360-345-3833.

4% max to sell a home in Portland and SW Washington.
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Over 2,000 homes sold.