As community association volunteers or professional, it is important to understand the trends, issues and operations affecting our community associations. To help foster that understanding, the Foundation for Community Association Research, which provides authoritative research and analysis on community associations, publishes a Community Association Fact Book and has just recently released its latest edition.
The Fact Book was created to support the Foundation’s mission of “providing research-based information to all community association stakeholders – homeowners, board members, management professionals as well as attorneys, accountants, developers, mortgage lenders, federal agencies, public officials and others – all who work with the Foundation and CAI to build better communities.”
If you haven’t had a chance to review the Fact Book, we recommend you take a look as it contains wealth of statistical and factual information on community association living and operations on both a national and state level. For instance, the Foundation estimates that 25 to 27% of the U.S. population now resides in a community association (i.e. condominium, planned community or cooperative), and that there are 351,000 community association in the United States. Michigan has approximately 8,425 community associations and ranks 14th out of the states in total number of community associations. Michigan also has approximately 50,000 board and committee members helping their communities thrive!
For more information, the full 2019 Community Association Fact Book can be found at https://foundation.caionline.org/publications/factbook/.