Facts Support The Growing Manufactured Housing Industry’s Position In Addressing The Nation’s Affordable Housing Needs
The following random facts validate manufactured housing as the answer to the American need for quality affordable housing, many contrasting the advantages over traditional new site-built and pre-owned homes.
Headwinds in the housing industry are potential tailwinds for manufactured housing, as the competitive pricing and speed at which manufactured homes can be built. Furthermore, the industry will likely benefit from government initiatives to improve the growing housing shortage issues.
INDUSTRY OVERVIEW
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.
NATIONAL SALES PRICES VS. SITE-BUILT HOMES
Average Sales Price Of A New Manufactured Home:
$124,900 – Single Section $85,800 – Double $159,200
(U.S. Census Bureau May 2022).
Average Sales Price of a Site- Built Home Nationwide: $435,000 (Realtor.com). Redfin says median median price at $376,000.
FIRE AND WIND SAFETY VS. SITE-BUILT HOMES
Fire Safety- The truth is that the modem manufactured home may well be “less susceptible to fire” than any other type of available dwelling, according to a study by the National Fire Protection Association. To review the study, click Manufactured Homes Fire Safety: An Honest Discussion.”
Wind And Storm Safety – As a result of upgraded HUD standards, manufactured homes produced since 1994, have been proven to be equal and in many respects safer than site-built homes during tornadoes and hurricanes, click “Manufactured Home And Wind And Storm Safety: An Honest Discussion.”
VALUE APPRECIATION VS. SITE-BUILT HOMES
“They don’t appreciate,” is probably the most prominent negative expression among manufactured home naysayers. That opinion could be close to the truth, if they are talking about “mobile homes,” not factually accurate when characterizing today’s modern manufactured homes.”
Fact: A comparably sized and sited manufactured home will appreciate near the same rate as a site-built home, and will have an original cost up to 50 percent less, and will be equal and often superior in quality as the site-built home.
Data from a report by the Urban Institute, a Washington think tank, released by the Federal Housing Agency, concluded that the price index for manufactured homes featured an annual growth rate of 3.4%, versus 3.8% for site-built homes.
QUALITY CONSTRUCTION AND CUSTOM FEATURES
“A manufactured home is everything a home should be” and more, with a wide range of features and amenities available allowing home-buyers to customize home to satisfy their wants and needs
According to a recent survey commissioned by MHI, 44% of prospective home-buyers say that modern floor plans of manufactured homes are one of their key drivers of consideration.
