MH By the Numbers – Growing Manufactured Housing Industry Positioned to Address the Nation’s Affordable Housing Needs
Head winds in the site-built housing industry are potential tailwinds for manufactured housing, as the competitive pricing and speed at which manufactured homes can be built. The average cost of a HUD Code home costs $127,300 which is well below the pricing of traditional site-built homes. Furthermore, the industry will likely benefit from government initiatives to improve the growing housing shortage issues.
22 Million Americans live in manufactured homes
4.3 Million estimated home sites in communities
43,000 + Land-lease communities.
Average Sales Price of a New Manufactured Home- $127,300 Single Section $85,800 Double $159,200 (nationwide) US.Census Bureau
Average sales price of a pre-owned site-built home (nationwide) $435,000 Realtor.com Redfin says median price at $376,000
REDFIN Survey – Migration from Los Angeles to out-of-state destinations. Destination as % of origin leavers – Metros areas only – Phoenix,AZ 8.2% – Las Vegas,NV.6.5% – Seattle,WA 4.44% – Dallas,Texas 4.0% – Portland, OR 2.6% – Houston, TX. 2.2% – New York, NY 2.0% – Nashville, TN. 1.9% – 1.0% – Washington, D,C 1.7% – Atlanta, Ga 1.7%
FLORIDA
There are about 822,00 manufactured and mobile homes in the state of Florida, according to the census Bureau, nearly 10% of the total supply of homes.
More than 600,000 homes predate 1994 HUD standards on manufactured homes in Florida. requiring improvements to withstand hurricane-force winds. In fact, a University of Florida study found not one Manufactured home built after 1994 was destroyed by four hurricanes that struck Florida in 2004.
Manufactured Housing Builders – 35 manufacturers
Home Building Factories – 144
Home Sales Centers – 4,000
In 2021, manufactured housing accounted for:
- 88% of all new homes sold under $200,000
- 97% of all new homes sold under $150,000
2 of 3 manufactured homes are located in rural areas.
According to a survey commissioned by MHI, 44% of prospective homebuyers say that the modern floor plans of manufactured homes are one of their key drivers of consideration.
