Top 4 Best States for Purchasing and Living in a Manufactured Home
Manufactured homes can offer an opportunity for ownership to millions of people priced out of today’s expensive housing market.
According to Zillow, the average home costs nearly $343,000, but the U.S. Census Bureau says the average new manufactured home sells for $127,300 – $86,400 for a single – section and $158,600 for a double-section.
HUD states, “Manufactured homes (formerly known as mobile homes) can be a great alternative for first-time and other homebuyers.”
This is especially true considering that HUD, which regulates manufactured homes. has a special program in partnership with the FHA to make it easier for buyers to purchase manufactured homes and lots.
But, just like traditional homes, you could pay a lot more or less depending on where you live. If you are considering a manufactured home, these states could make it much easier on your wallet.
Texas
According to Statista, there are more manufactured homes in Texas than in any other state, by far – more than 556,000 compared to fewer than 319,000 in No. 2 North Carolina.
The Lone Star State certainly makes it an attractive proposition.
“Texas has no state income taxes. making it an attractive option for those looking to save money.” said Realtor Alex Caporzzola. “The fees for owning a manufactured home in Texas are relatively low, with most communities charging between $300 and $600 per month for lot rent. With lower costs across the board, living in a manufactured home in Texas can save you a significant amount of money compared to other states.
Florida
According to the Florida Manufactured Association (FMHA), one in five new homes in Florida is a manufactured home – and it’s not hard to understand why.
Another state with no income tax. Florida property taxes are also relatively low. Making it an affordable option for homeowners.
On top of that, the FMHA says “”Factory-built homes in Florida are designed and built to withstand even hurricane-force winds. Thanks to stringent building codes, safety inspection standards, and Florida’s comprehensive installation requirements, a Florida factory-built home may be the safest home you can buy.”
Michigan
The Midwest is the most affordable region for new manufactured homes. The Census Bureau says the average cost is $112,400 – compared to $123,400 in the Northeast, $126,900 in the South and $148,500 in the West. At $109,000 Michigan is forgiving even by Midwest standards.
Arizona
Because it caters to so many retirees and vacationers, Arizona stands out for its many manufactured home communities that look more like resorts than the typical “mobile home” park.
Arizona also has no state income tax, making it a financially viable option for those looking to save money.The cost of living in Arizona is also lower compared to other states, which can result in additional savings.
(Source: excerpts from Investing/Real Estate by Andrew Lisa)
