Homebuyers are Saving Money With Manufactured Homes

Manufactured homes are becoming more popular with homebuyers, especially those looking for a more affordable path to ownership. Compared with the $410,000 nationwide median price tag for single-family homes, the median listing price for HUD-code manufactured homes is just $141,450, which is down by 5.7% year-over-year, according to a report from real estate marketing platform Realtor.com.

What are the advantages of buying a manufactured home?

Besides a lower listing price, there are a number of perks for homebuyers who purchase a manufactured home over a traditionally built single-family home. Over the last seven years, existing manufactured homes sold with a lot (not on a leased pad) appreciated in value by 70.1%, compared with the 58.6% increase observed by typical single-family homes.

New manufactured homes offer additional benefits, including the opportunity to customize the floor plan and move-in ready delivery within weeks. 

Where are the most manufactured homes located?

At 5.9%, the Tampa, Fla., metro has the greatest share of manufactured homes among its total housing inventory, followed by Phoenix at 4.1%, Riverside, Calif., at 3.5%, and Lakeland, Fla., at 3.4%.

But in each of these metros, the median price for a manufactured home is well above the nationwide median price tag. In Tampa, for instance, the median listing for a new or existing manufactured home price is $399,900, and in Phoenix, the median listing price is $494,998.