Compared with condominiums, the monthly fees for a cooperative owner are typically ______.

In cooperative housing, also known as co-op, owners are actually shareholders in a corporation that owns the entire building, whereas condominium owners hold title to their individual units. This fundamental difference leads to distinct financial responsibilities. Cooperative owners typically face higher monthly fees compared to condominium owners because these fees generally cover not only the maintenance and upkeep of the property but also utilities, property taxes, and potentially the underlying mortgage for the entire building.

While condominium associations also levy fees for maintenance and shared services, these costs are usually lower because each owner pays for their individual unit's mortgage and utilities rather than contributing to aggregated costs of the entire property. Therefore, the combined financial responsibilities for cooperative owners often result in higher monthly fees, making the correct choice for this question the option that indicates their fees are higher than those for condominiums.