We just took a detailed look at Home Owner Association fees at all Phoenix high rise condo buildings for the last five years. For the most part you will see a gradual increase in the older established buildings while increases were somewhat extreme in the newer buildings. A cynic might believe that the reason the newer building HOA fees jumped so much was because the developers underestimated operating costs in order to promote sales of its condos. Of course an optimist might explain that HOA fees and operating expenses are very difficult to predict for a building that does not already exist. I’ll leave it to you to decide what makes the most sense to you.
Here’s the data stated in dollars per square foot per month: