If you’ve been eyeing a condo in Northeast Florida  or already own one  you’ve probably noticed that monthly HOA fees aren’t what they used to be. According to data from the Northeast Florida Association of Realtors, the median monthly HOA fee for sold condos has jumped from $340 in 2022 to $487 in 2025  a staggering 43.2% increase in just three years.

This trend isn’t isolated to one building or one community. It’s happening all across the region, and it’s reshaping what condo ownership really costs.

Why HOA Fees Have Been Rising Since Surfside

The turning point was June 2021, when the tragic Surfside condominium collapse in South Florida put a spotlight on building safety and maintenance across the state. In the aftermath, Florida lawmakers passed new legislation requiring more frequent structural inspections and fully funded reserve accounts for future repairs — particularly in older condo buildings.

While these changes were designed to protect homeowners and prevent another disaster, they also brought significant new costs. Condo associations across Northeast Florida have had to:

• Conduct costly milestone inspections and structural integrity reports.

• Begin fully funding reserves, often after years of underfunding.

• Address deferred maintenance projects they could no longer postpone.

The result? Higher monthly dues  and in many cases, special assessments  to cover the expenses of bringing buildings into compliance and ensuring long-term safety.

What This Means for Buyers and Owners

If you’re thinking about buying a condo, HOA fees are no longer just a footnote  they’re a major part of the total cost of ownership. A $487 monthly fee adds nearly $6,000 a year to your housing costs, and that’s before property taxes and insurance.

Here’s what to keep in mind:

• Budget beyond the mortgage. Rising fees can significantly change your monthly payment especially when paired with today’s interest rates.

• Look closely at reserve studies. Buildings with healthy reserves may see slower fee increases over time, while those playing catch-up could face steep hikes.

• Ask about upcoming assessments. Even with higher monthly dues, some associations are still levying one-time assessments for major projects.

The Bottom Line

Condo living still offers incredible lifestyle benefits in Northeast Florida  from walkable downtown locations and water views to lock-and-leave convenience. But as HOA fees continue to climb, it’s more important than ever to understand the true cost of ownership before you buy.

If you’re considering a condo purchase  or wondering what these changes mean for your property’s value  let’s talk. I help buyers and sellers navigate the condo market every day, and I can walk you through the questions to ask and the red flags to watch for.

📅 Schedule a call with me here or reply to this email to get started.