Sales Prices for New Manufactured Homes by Region Across the U.S. – What is a Fair Price?
Home shoppers are often confused and sometimes skeptical about retailer pricing of manufactured homes. All shoppers want fair value in their purchase. Comparative pricing is difficult as there are a large array of manufactured home styles, sizes, and custom features available, with some options available in one region of the country that will not be available in other geographical areas. Some features that are standard on some homes are optional on other homes, such as finished drywall interiors, deluxe appliances, vaulted ceilings, covered porches, luxury baths, etc.
All new manufactured homes are constructed in conformity to a rigid building code, the Hud Code, that assures that the basic home is quality built to meet stringent uniform health, safety, and construction standards. Manufactured homes are the only form of single-family housing built to comply with a federal building code. That being said, the price you will pay is dependent upon the number of upgrades you will choose to meet your needs and wants.
The following excerpts from the U.S. Census Bureau statistical survey of January 14, 2021, titled Average Sales Price Of New Manufactured Homes By Region And Size Of Home Shipments might be helpful in making your home purchase.
The U.S. Census Bureau survey methodology used beginning in August 2014 involves contacting the retailer (dealer) four months after the home was shipped to ask about the status of the home. The retailer is asked to report a sales price if the home is already sold and placed for residential use or to report an intended sales price if the home is intended for sale for residential use. An estimate of average sales price includes both actual sales price and intended sales price.
The number of manufactured homes shipped within the U.S. through November 2020 was 86,800. The average August sales price for a manufactured home, all sizes, was $88,200. Single section average price was $57,700. Double section and multi-section were $109,300.
The average sales price for homes shipped by region by size for August 2020. Note: The stated average price for double section homes include multi-section homes such as triple-wides and quads.
Mid-West
All sizes: $75,900 – Single-section $57,700 – Doubles $97,600
South
All sizes $87,900 – Single-section $56,700 – Doubles $109,600
Northeast
All sizes $87,600 – Single-section $60,500 – Doubles $109,600
West
All sizes $104,910 – Single-section $$60,500 – Doubles $119,500
Comparative pricing of a manufactured home versus a site-built home is not complicated. Simply stated, today’s manufactured home is at least equal, and often superior, in every respect to a comparably sized site-built home, and will have a cost of about 50% less.
The cost advantage is profound. The average sales price of a new site-built home (excluding land) in 2019 was $297,747 and has increased dramatically since 2019. Today (2021) the price of a new site-built home is about six times more expensive than a single section manufactured home and three times as expensive as a double-section manufactured home.
The price per square foot for a manufactured home is about $50.00 compared to $114.00 for a site-built home (MHI 2019), an astounding differential when considering that a manufactured home will be equal and often superior to a site-built in every respect, including quality of construction, materials, durability, energy efficiency, fire and wind safety, and customization options.
