NAICS Code 531110-04 - Condominiums

Marketing Level - NAICS 8-Digit

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Looking for more companies? See NAICS 531110 - Lessors of Residential Buildings and Dwellings - 49,565 companies, 54,491 emails.

NAICS Code 531110-04 Description (8-Digit)

Condominiums are a type of residential building where individual units are owned by different individuals, while the common areas and facilities are jointly owned and maintained by the unit owners through a condominium association. This type of housing is popular in urban areas and provides a sense of community living with shared amenities such as swimming pools, fitness centers, and common rooms. Condominiums can range from small buildings with just a few units to large high-rise complexes with hundreds of units.

Parent Code - Official US Census

Official 6‑digit NAICS codes serve as the parent classification used for government registrations and documentation. The marketing-level 8‑digit codes act as child extensions of these official classifications, providing refined segmentation for more precise targeting and detailed niche insights. Related industries are listed under the parent code, offering a broader context of the industry environment. For further details on the official classification for this industry, please visit the U.S. Census Bureau NAICS Code 531110 page

Tools

Tools commonly used in the Condominiums industry for day-to-day tasks and operations.

  • Property management software
  • Accounting software
  • Maintenance management software
  • Building automation systems
  • Security systems
  • HVAC systems
  • Plumbing tools
  • Electrical tools
  • Painting tools
  • Landscaping tools

Industry Examples of Condominiums

Common products and services typical of NAICS Code 531110-04, illustrating the main business activities and contributions to the market.

  • Luxury condominiums
  • Beachfront condominiums
  • Retirement condominiums
  • Urban condominiums
  • Ski resort condominiums
  • Gated community condominiums
  • Waterfront condominiums
  • High-rise condominiums
  • Low-rise condominiums
  • Vacation condominiums

History

A concise historical narrative of NAICS Code 531110-04 covering global milestones and recent developments within the United States.

  • The concept of condominiums originated in Europe in the 18th century, where they were known as "commonhold estates." The first modern condominium was built in Salt Lake City, Utah, in 1960. The idea quickly caught on, and by the 1970s, condominiums had become a popular form of housing in the United States. In recent years, the industry has seen significant growth due to the increasing demand for affordable housing and the desire for low-maintenance living. In 2020, the COVID-19 pandemic has also impacted the industry, with many people seeking larger living spaces and outdoor amenities.