Majority of Consumers Say They Would Consider Purchasing a Manufactured Home
(Source: Freddie Mac Research Brief / June 29, 2022) – Two years of significant home price appreciation have resulted in national concerns about housing affordability. However, in new research by Freddie Mac, 6-in-10 individuals say they would consider purchasing the type of dwelling that has become the largest source of unsubsidized affordable housing in the United States: Manufactured Housing.
Construction costs for manufactured homes are typically lower, which may have contributed to their growing popularity in recent years. According to recent U.S. Census Data, 6.2% of people currently live in manufactured homes.
A recent Freddie Mac housing survey shows that general familiarity with manufactured housing is relatively high, with 47% of respondents saying they are somewhat or very familiar with manufactured housing. In the study, 62% of people say they are likely to consider purchasing a manufactured home in the future.
Perception of Manufactured Homes
The overall perception of manufactured homes is positive, according to the survey results.
All told, 77% of people who are aware of manufactured homes expressed a positive sentiment toward these homes, describing them as “new,” “efficient,” “affordable,” and “easy.” Most agree that there are tangible benefits to manufactured homes including the following:
- Allow a wide range of customization.
- Affordable without compromising on quality.
- Ecofriendly and energy efficient.
- A good investment.
Who is Likely to Consider Buying a Manufactured Home?
Although 62% of people say they are likely to consider purchasing a manufactured home in the future, certain populations are more likely than others to buy them. The survey results were analyzed by generation, race, urbanicity, and household income to take a closer look at trends in the likelihood to purchase a manufactured home.
Household income did not reflect respondents’ reported likelihood to purchase, but the survey data shows that those with an annual income of less than $50,000 have a significantly more positive perception of manufactured homes than the total sample of other income groups.
Likelihood to Consider Purchasing: By Generation
Generation: Likelihood to Purchase:
Gen X 62%
Gen Z 61%
Likelihood to Consider Purchasing: By Race
Race: Likelihood to Purchase:
Likelihood to Consider Purchasing: By Urbanicity
Urbanicity: Likelihood to Purchase:
The 2022 Manufactured Housing Survey was fielded April 7-11, 2022, and includes responses from 2,092 respondents age 18 and older. The survey oversampled for Black and Hispanic consumers, Gen Z, and Millennials.