In Lake Stevens, WA, condos and houses sell for almost the same price per square foot. Recent data puts condos at $356 per square foot and single-family homes at $361. That $5 gap is close enough that the monthly HOA fee becomes the real cost difference.
A monthly fee adds up fast. Over a year it erodes whatever upfront savings you thought you found in a smaller unit. The services those dues replace, whether that's water bills, roof repairs, or snow plowing, tell you if a specific property fits your budget.
Key Takeaway
The price gap between attached and detached homes shows up most clearly in the monthly HOA fee, not the purchase price per square foot. If you want dues that replace bills you'd pay anyway, start with a complex like Fairweather Pointe, whose fee covers water, sewer, and trash. If you'd rather keep monthly costs in your own hands, compare against single-family homes and confirm whether the specific subdivision has its own association.
Who This Guide Is For
You're looking at Lake Stevens condos or HOA neighborhoods and need to know whether a monthly fee is worth what it covers before you make an offer.
What You Can Expect to Pay for HOA Fees in Lake Stevens
The condo median price per square foot is based on 10 sales for the 90 days ending September 30, 2026. Because those per-foot prices are so close to the single-family median, the monthly HOA fee is what determines the price gap between the two property types.
No reliable citywide average exists for association dues. Somerfield's $488 a month is the only current, sourced figure available. On a hypothetical 1,000-square-foot unit, the per-foot discount against a house comes to roughly $5,000. At $5,856 a year, dues at that rate wipe out the purchase-price discount within the first year.
That math means the purchase-price discount disappears within the first year, and that's before you consider what the fee covers. A fee is only high or low relative to what it replaces: exterior upkeep, hazard insurance, utilities. Context matters here.
Single-family homes in planned subdivisions can carry their own association dues too. Check the HOA field on any listing and request the covenants, conditions, and restrictions (CC&Rs) from the seller to confirm the exact costs.
Lake Stevens Condo Complexes and Their Included Services
Federal Housing Administration approval status is not confirmed for any of the major complexes in Lake Stevens. Check HUD's online lookup tool before assuming you can use an FHA loan for a specific building.
Dues vary widely depending on what a complex covers, from full exterior maintenance and utilities down to nothing but the master insurance policy. The four complexes below show that range.
Somerfield Condo
Somerfield provides the only current fee benchmark for the area: about $488 a month, per a Northwest Multiple Listing Service (NWMLS) listing dated July 29, 2026. At $5,856 a year, it's the number to hold up against anything else you're quoted.
The listing doesn't confirm what that fee pays for. Until you see the association's budget, you can't tell whether that amount is reasonable or not. Ask the Somerfield HOA or listing agent what the monthly fee covers and request the current budget.
Fairweather Pointe Condominium
At Fairweather Pointe, water, sewer, and trash are folded into the HOA dues, per its listing, so those bills don't arrive separately each month. The fee also covers common area maintenance and lawn service. You can review typical local utility rates to get a sense of how much you're saving by not paying those bills directly.
Because water and sewer are bundled into the HOA payment, subtract what you'd otherwise pay for them before comparing this fee to other buildings. No fee from the last 12 months is on record here. Ask the HOA or listing agent for today's dues and the most recent budget before setting it beside Somerfield.
West Lake Pointe
West Lake Pointe's dues include snow removal and road maintenance, per its listing, so the association handles plowing and road upkeep rather than passing those tasks to individual owners. The fee also covers common area maintenance, lawn service, and trash.
Owning road upkeep means owners fund future repaving through dues or reserves. If those reserves are thin, a large repair can arrive as a special assessment. No fee from the last 12 months is on record, so ask for current dues and the reserve study's road line item before comparing this complex to others.
Sitka Keep
Sitka Keep sits at the opposite end of the coverage range. Its dues cover only the building's master insurance policy, per its listing. Yard care, utilities, and trash are the owner's responsibility.
That arrangement has an appeal if you want to handle your own yard and utilities and pay less through the HOA. The catch is that you're still buying your own unit coverage and paying every bill separately. No current fee is on record to confirm it's cheaper than other buildings. Ask for current dues and the master policy's deductible, which owners may share after a claim.
Comparing HOA Costs for Condos and Single-Family Homes
Condos in Lake Stevens took a median 32 days to sell recently, compared to 18 days for single-family homes. Only 20% of condos sold above list price, while 32.8% of houses did. Both condo figures are based on 10 sales during the 90 days ending September 30, 2026, so treat the exact percentages with some caution. You can check the Lake Stevens housing market for more context on these figures.
Condo inventory sits at 3.8 months of supply versus 2.8 for single-family homes. That slower pace means condo sellers face less competition, which gives you room to negotiate a credit that offsets a year of dues.
The median sale price for a condo is $394,434, again based on a small 10-sale sample, against the single-family median of $717,214. A condo saves little per square foot, but the lower overall price is a real entry-point difference. What you trade is control: a house costs more up front, but your upkeep spending is yours to manage.
Single-family subdivisions can have their own associations, and fees and coverage vary widely by plat. On single-family listings, confirm whether the subdivision has an HOA, what the dues are, and what the CC&Rs require. Age-restricted neighborhoods carry their own specific association structures worth reviewing separately.
How to Decide If a Monthly HOA Fee Is Too High
Washington law (RCW 64.90.550) specifies that any reserve study must include a reserve component list for items whose replacement cost exceeds one percent of the annual budget. The study must also show the association's reserve account balance and a 30-year projected balance. That document is your clearest window into whether a building's finances are healthy.
Because no local benchmark range exists for Lake Stevens, judge a fee by subtracting what it replaces. Compare a complex like Fairweather Pointe, which covers utilities, against Sitka Keep, which covers only the master insurance policy. Then check that the reserve study is current and the reserve fund is adequately funded to handle upcoming repairs.
Read the last 12 months of board minutes for planned projects, and confirm lender approval before shortlisting a building. Budgets can rise over time, and Washington has specific rules for how boards ratify budget increases.
A few decision points worth pausing on. Do you want the HOA to handle utilities, yard work, and snow, or would you rather pay less in dues and handle those yourself? Go to the complex profiles above and compare Fairweather Pointe and West Lake Pointe against Sitka Keep. Are you weighing a condo against a house at a similar price per square foot? Start with the worked example in the first section and the pace figures in the condo versus single-family section above.
Financing with an FHA loan? Check the complex on HUD's condo approval lookup before you shortlist it. Has the association given you its budget, reserve study, and any pending assessment? If not, read through the other costs below before deciding a fee is reasonable.
Other Association Costs You Should Plan For
Under RCW 64.90.640, a unit owner must furnish a purchaser a resale certificate before execution of a sale contract, with limited exceptions. The association must furnish the certificate within 10 days of an owner's request.
Monthly dues are only one part of the picture. Plan for one-time charges and irregular assessments that sit alongside the regular payment. Pilchard Properties can walk through a resale certificate with you before the review window closes.
Resale certificate
Washington gives condo and HOA buyers a set number of days after receiving the resale certificate to cancel. Specifically, a purchaser may cancel the purchase contract within five business days after first receiving it. A reasonable preparation charge for the certificate may not exceed $275, and the association may charge no more than $100 for updating a certificate requested within six months of a prior request.
This document is where every number in this guide gets confirmed or corrected. It's only as current as its date, and assessments approved after it was issued can still surprise you. Ask whether any board vote is scheduled before closing.
Special assessments
Special assessments are one-time charges levied when reserves fall short of a repair, such as roofs, siding, or private roads. Under RCW 64.90.525(3), the board may propose a special assessment at any time, but it's effective only if the board follows the same budget-ratification procedures used for the annual budget and unit owners don't reject it.
The board may allow a special assessment to be paid in installments and may offer a discount for early payment. An assessment approved but unpaid at closing is negotiable between buyer and seller. A low monthly fee can simply mean underfunded reserves, so the cheapest dues sometimes carry the highest risk of an assessment. Ask for the reserve study and the assessment history for the past several years.
Transfer and capital contribution fees
Some associations charge a transfer fee or a capital contribution when a home sells. RCW 64.90.480(2) allows a declaration to provide that, upon the first conveyance or first occupancy of a unit, the association may assess and collect a one-time working capital contribution. This contribution may not be used to defray expenses that are the declarant's obligation.
RCW 64.90.405 lets an association impose reasonable fees for moving in, moving out, or transferring title to units, to the extent provided for in the declaration. The statute doesn't set a specific statewide dollar cap on transfer fees or capital contributions. These charges show up on the settlement statement alongside your other closing costs, and they're rarely shown on the listing. Ask escrow or the HOA manager for the exact figures before you sign.
At a Glance
- Single-family median sale price: $717,214, up 1% year over year (133 sales, 90 days ending 2026-09-30)
- Condo median sale price: $394,434, down 33.1% year over year (based on only 10 condo sales, 90 days ending 2026-09-30; a sample this small swings with which units sold, so treat the change with caution)
- All homes median sale price: $674,679, down 2.2% year over year (155 sales, 90 days ending 2026-09-30)
- Median price per square foot: $361 single-family (133 sales); $356 condo (based on 10 sales), 90 days ending 2026-09-30
- Median days on market: 18 single-family; 32 condo (based on 10 sales), 90 days ending 2026-09-30
- Share sold above list price: 32.8% single-family; 20% condo (based on 10 sales), 90 days ending 2026-09-30
- Sale-to-list ratio: 100% single-family; 99.6% condo (based on 10 sales), 90 days ending 2026-09-30
- Months of supply: 2.8 single-family; 3.8 condo, 90 days ending 2026-09-30
- Homes for sale (inventory): 123 single-family; 13 condo, 90 days ending 2026-09-30
Lake Stevens HOA Fees FAQs
How much can an HOA fee increase in Washington state?
Washington sets no fixed percentage cap on HOA fee increases. Increases go through a budget ratification process where the board adopts a budget and owners can reject it at a meeting unless the governing documents say otherwise. Under RCW 64.90.525(1)(a) for newer communities, the board must provide the budget to owners within 30 days and set a meeting; unless a majority of the votes reject it, the budget is ratified. For pre-2018 HOAs, RCW 64.38.025(3) requires a similar process where the budget is ratified unless a majority rejects it in person or by proxy. Ask the association for the last three years of budgets to see the increase pattern.
What is the property tax rate in Lake Stevens, WA?
For tax year 2026, the Snohomish County Assessor's Office lists the typical combined property tax levy rate for the City of Lake Stevens at 8.8673 per $1,000 of assessed value. The City of Lake Stevens' own city-government portion of that levy is roughly $0.69 per $1,000 for 2026. Property tax is billed separately from HOA dues, but both go into your monthly housing cost, so reviewing the full cost of living gives you the complete budget picture.
Is Lake Stevens an expensive place to own a home?
It depends on what you buy. The all-homes median sale price in Lake Stevens is currently $674,679, down 2.2% year over year, based on 155 sales for the 90 days ending September 30, 2026. For condo buyers, HOA dues at Somerfield sit on top of the mortgage payment. You can review the local cost of living for everything beyond housing.
Are HOA fees in Lake Stevens paid monthly or yearly?
Fees are quoted monthly on local listings, such as Somerfield's fee, but the billing schedule is set by each association's governing documents. Associations may bill monthly, quarterly, or annually. Ask the HOA manager for the billing schedule, the payment method, and the late-fee policy.
Can I use an FHA loan to buy a condo in Lake Stevens?
Only if the complex is FHA-approved, or if the specific unit qualifies under single-unit approval. FHA status is not confirmed for Somerfield, Fairweather Pointe, Sitka Keep, or West Lake Pointe. HUD maintains an online condominium lookup tool to check a project's approval status, and a unit may be financed via Single-Unit Approval if the project is complete, has at least five units, and meets specific financial and occupancy requirements. Search the complex by name before making an offer.
Can a Washington HOA restrict renting out my condo?
Yes. Under Washington's Uniform Common Interest Ownership Act (RCW 64.90.285), a declaration amendment generally requires approval by unit owners holding at least 67% of the votes in the association. The board can't amend the declaration on its own except in limited circumstances. Read the current CC&Rs and any recorded amendments for rental rules before buying with future renting in mind.
Do HOA fees count toward mortgage qualification?
Yes. Lenders add monthly HOA dues to your housing payment when calculating your debt-to-income ratio, so a high monthly fee lowers the loan amount you qualify for much as a higher mortgage payment would. Per the Fannie Mae Selling Guide, the monthly housing expense used to calculate DTI includes principal and interest plus any owners' association dues. Give your lender the exact dues figure from the resale certificate, not the listing estimate.
Sources
- Redfin: Data Center
- NWMLS listing #2557125 (active 2026-07-29)
- NWMLS listing #2416361 (active null)
- NWMLS listing #2483643 (sold null)
- NWMLS listing #2536997 (active null)
- Washington State Legislature: RCW 64.90.525
- Washington State Legislature: RCW 64.38.025
- Washington State Legislature: RCW 64.90.640
- Washington State Legislature: RCW 64.90.550
- Washington State Legislature: RCW 64.90
- Washington State Legislature: RCW 64.90.480
- Washington State Legislature: RCW 64.90.285
- Snohomish County: 2026 Annual Report
- HUD: Condominiums
- Fannie Mae: Monthly Housing Expense for the Subject Property
