HOA (Homeowners Association)

Definition

An organization governing a residential community with rules designed to maintain property values and busybody neighbors' quality of life.

Example Usage

The HOA fined us $250 for painting our door without approval.

Origin

Community governance structure formalized in the 1960s-70s

Fun Fact

Approximately 25% of Americans live in HOA communities, paying an average of $250-400 monthly.

Source: Community Property Management

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