I am sure somewhere, at sometime, HOA fees decreased, but I am also sure that 98% or more of the time, increases occurred. To assure MYSELF these increases were necessary, I volunteered and served our HOA for years, and trust me, it was a real chore to keep the HOA fees as low as possible, but they still had to be raised. Ours went from $34 a month in 91 to $54 a month now. So roughly $1 a year increase. That sounds reasonable, I guess, but it is a check I hate writing...lol.
Now, how will the market be over the next 5 years....wow, tough question! I doubt seriously reviewing the last ten years of data will help much. But, if your mortgage payment is less than rents today, chances are it will be lower than comparable rents in 5 years, and if rates go higher, which most people think they will, your payment will be correspondingly LOWER than the competition, which should position your rental in a great spot.
If you need any help regarding mortgages, or would like to discuss HOA's in general, feel free to contact me!
Jim, HSOA, 703 591 5626 ext 419 C 703 615 4675. Nationwide for 75!