Prices of Pre-Owned Manufactured Homes and Mobile Homes Have Skyrocketed Across the Country
From Montauk to Malibu, the prices of manufactured homes and mobile homes* can soar into millions of dollars
If you thought the cost of single-family homes surged during the pandemic, that’s nothing compared to the escalating prices in America’s manufactured and mobile home communities.
A new study by Lending Tree has found that the prices of manufactured home residences have increased faster than traditional site-built single family residencies, according to a report by The New York Times. The report looked at the data from the U.S. Census Bureau to pinpoint where the country’s numbers have risen the most and how prices have changed from 2017 to 2022.
In 2017, the average sales price of a manufactured home in the U.S. had spiked 77 percent to $127,300. At the same time, traditional site-built single family dwellings clocked in at $93,737 but only saw prices rise by 47 percent to $430,080 in the same period. In 2022, mobile homes* and manufactured homes were the most expensive in Idaho, at an average of $168,500. For context, that’s an 82 percent leap from what it would’ve cost in 2017. Elsewhere in the country, Wyoming, Illinois, Kentucky, and Mississippi saw the most dramatic increases in prices. In fact, prices for mobile homes* and manufactured homes in these states more than doubled during this period.
“In the face of such expensive real estate, many would-be buyers may consider more affordable options like manufactured or mobile homes. But just because manufactured homes are typically less expensive than most traditional site-built, single family housing, it doesn’t mean they’re cheap,” the report said.
Take Paradise Cove Mobile Home Park in Malibu, for example, where humble mobile homes with ocean views routinely sell for millions of dollars. Widely considered one of the priciest trailer park communities in the country, celebs such as Matthew McConaughey, Stevie Nicks and Sarah Paulson have all flocked to the bluff-side enclave. Currently, there is a one bedroom, one bath “cottage” on the market for $5.3 million and another three-bedroom, two bath place listed for $4.2 million.
Similarly, Montauk Shores, a seaside mobile home park on the tip of Long Island’s Hamptons, has become a playground for multi-millionaires, particularly those who like to surf. The average sale price of residences at the former campsite has more than doubled since 2022, The New York Post reported, and a two bedroom, two-bath beachfront mobile home* recently smashed a real estate record when it traded in an off-market deal for a hefty $3.75 million.
Source: Robb Report
*Note: The report did not differentiate between “mobile homes” and manufactured homes. There have been zero “mobile homes” built since 1976 with the passage of federal legislation mandating a strict building code (HUD Code) creating manufactured housing.
