Constitutional law professor here. I want to clarify a common misconception in this thread: the First Amendment does NOT apply to HOA restrictions on political signs. The First Amendment only restricts government action, not private entities like HOAs. This is a fundamental distinction that many homeowners misunderstand.
However, many states have enacted specific statutes that protect homeowners right to display political signs even in HOA communities. These statutes effectively extend free speech protections into the private HOA context through legislation rather than constitutional law. For example, California Civil Code Section 4710 allows homeowners to display political signs of reasonable size during election season. Arizona, Colorado, Florida, Maryland, and several other states have similar protections.
The key variables to check in your state statute include: What constitutes a political sign (candidate signs only, or also issue-based signs)? Is there a size limitation? Is the protection limited to a specific time window before an election? Can the HOA impose reasonable restrictions on placement (front yard only, no common areas)?
If your state does not have a specific statute protecting political signs, then your HOA CC&Rs and rules govern. If the CC&Rs restrict signage and were in place when you purchased, they are almost certainly enforceable. If the restriction was added by board resolution after your purchase, check whether your state requires a full owner vote for rule changes that affect use rights. That procedural angle has been successful in several recent cases I have followed.