San Francisco Condo Delinquencies Soar 45% as HOA Fees Explode
Rising HOA Fees Drive Financial Stress for San Francisco Condo Owners A financial crisis is engulfing San Francisco's condominium market as homeowner association fees surge to unprecedented levels. Owners are being forced into delinquency at alarming rates. Monthly HOA dues have exploded from $500 to over $1,100 in just 15 years. Current averages hit $759 across the city. This represents a staggering 26% year-over-year increase. It far exceeds national medians of $290 monthly. The financial strain has become unbearable for countless owners. Many are already grappling with San Francisco's crushing cost of living. Rising costs have made it difficult for small investors, who must now strategically adapt to remain competitive in the housing market. Residents report making severe budget adjustments. They're cutting discretionary spending to meet escalating HOA obligations. Rising maintenance costs, insurance premiums, and labor expenses drive the relentless fee increases. Older...