Baby boomers want to downsize their homes. But they fear the big, bad HOA fee.

Susan Hopkins and her husband don't know how much longer they'll be able to navigate the stairs in their two-story home in Fillmore, California.

Courtesy of Susan Hopkins

• Older homeowners tell BI that steep HOA fees are making it harder to downsize.
• The average HOA fee has soared 42% since 2019, worsening housing affordability.
• And a growing number of US homes are governed by HOAs.

For 60 of his 64 years, Patrick Luzzi has lived in the red brick house in Yonkers, New York, where he was raised.