New Manufactured Homes in Idaho are More Costly Than Anywhere in the Nation. Here’s Why
Just because manufactured homes are more affordable than site-built homes doesn’t mean they’re cheap – especially in Idaho.
In fact, the cost of a new manufactured home is more expensive in the Gem State than anywhere else in the country, according to a new report from Lending Tree, a North Carolina-based online marketplace. Can you guess how much one might cost?
The average sales price of a new manufactured home in Idaho in 2022 was $168,500. That’s an 83% increase over the price in 2017, which was $92,300, the report said.
Montana and Arizona had the next highest prices, both around $160,000.
(Editors note): The average sales price of a new single-family site-built home in Idaho in 2023 was $434,224 according to Zillow.
The cost of a new manufactured home is cheapest in Kansas, Ohio and Nebraska, where the average sales price in each in 2022 was around $101,000.
But why are factory-built dwellings becoming much more expensive, particularly in Idaho?
Jacob Channel, senior economist at Lending Tree and author of the report, told the Idaho Statesman that all types of housing – mobile homes, site-built homes, apartments and recreational vehicles – have dramatically increased in cost over the last few years, with manufactured homes being no exception.
(Editors Note): According to nationwide industry information, a new manufactured home will have a selling price up to half the price of a site-built home and will be equal or superior in every respect to the site-built. (land not included).
“Manufactured homes have started to become more popular as people who maybe at one point were in an area where they could afford a site-built home no longer can, because prices have risen,” Channel said by phone. “These people might still have enough money to afford a manufactured home instead.”
Channel said one reason the average price of a manufactured home is highest in Idaho is because residents are more willing to pay a premium for “higher-end” multi-section models, like a double -wide or a triple-wide, versus a typical single-wide, than people in other parts of the country.
The U.S. Census Bureau’s Manufactured Housing Shipment Survey shows that in 2022, a majority of manufactured homes shipped to Idaho were larger, more expensive models.
Plus, its become more costly and logistically challenging to build manufactured homes.
“You add all that together and you’re going to end up with rising prices, Chanel said.
The Lending Tree report analyzed data from the U.S. Department of Housing and Urban Development and the U.S. Census Bureau’s Manufactured Housing Survey and Survey of Construction.The surveys provide average sales prices for new manufactured homes and single-family homes sold in the U.S.
Source: Idaho Statesman
