The Who, Where, and Why Home Buyers Choose Manufactured Housing Communities
Across the U.S. there are approximately 45,000 to 50,000 (exact number unknown) land-lease manufactured home communities, formerly known as “mobile home” parks, with 4.2 million home sites – 693,000 of those manufactured home sites are owned by the top 50 community owners/operators in the U.S.
Historically, 34% is the percentage of manufactured homes that have been placed within manufactured home communities, though the share of new homes sited in communities has grown in recent years, as many have been placed in communities where the manufactured homeowner owns the land.
Manufactured home communities are typically categorized as either family (all ages) or age-restricted (senior) parks, with amenities, facilities, and activities related to those designations.
TOP 5 REASONS PEOPLE CHOOSE TO LIVE IN A MANUFACTURED HOME COMMUNITY
The stereotypical belief is that only low-income people live in a mobile home/manufactured home park is not necessarily based upon facts. There is a multitude of reasons why so many Americans choose to live and remain residents of these land lease communities. The following are 5 of those reasons.
- Affordability – Entry-level home buyers appreciate the ability to own an ideal home with savings of 50% less than a comparable site-built home. If financing, the down payment, and monthly installments will be considerably less than the site built. Expensive site improvements such as grading, utility connections including water electric, gas, sewer, or septic are usually provided by mobile home park management.
- Privacy – The manufactured home on a plot of land does not share walls, ceilings, or floors with any other residential structures.
- Community – Sense of community similar to a small village, usually with recreation facilities, laundry, etc; neighbor’s protective of other neighbors contributing to a safe environment to live and raise a family and/or sense of security for an aging resident.
- Lower utility, maintenance costs, and tax savings – Typically, a newer manufactured home will be more energy-efficient than a pre-owned site-built home and may be smaller resulting in additional savings.
- Pride of ownership – Homeownership is integral to the American Dream. Owning a home gives people a sense of initiative, self-esteem, and pride. Today’s manufactured home is “everything a home should be,” whether sited in a land-lease community or upon private property.
MANUFACTURED HOME COMMUNITY RESIDENT SATISFACTION
Nationwide surveys of manufactured homeowners residing in manufactured home communities found that those homeowners are satisfied with their home and siting choices:
90% of people are satisfied with their home choice.
71% of residents cite affordability as a key driver for choosing manufactured housing.
62% of all residents anticipate living in their manufactured homes for more than 10 years.
38% don’t anticipate ever selling their manufactured home.
SENIORS LIVING IN AGE-RESTRICTED MANUFACTURED HOME COMMUNITIES ARE LIVING HEALTHIER, HAPPIER
A study by myMHCommunity.com showed that seniors living in their communities spend on average an extra hour each week socializing compared to those living in single-family housing
Where you live matters: Manufactured home/mobile home community activities can have a huge impact on quality of life, and make a significant difference to overall well being,
Those who are social live longer: A study from Brigham Young University found that people who are social live longer than those who lead isolated lives. Living in a community makes it easier for residents to interact regularly with similar interests and feel connected, supported and engaged.
A 2015 Mayo Clinic study found that people who take on creative outlets like painting, quilting, or social activities like book clubs, are less likely to suffer from dementia, as they age.