Mobile Home 'Renaissance' May Be on the Horizon
One in 10 households living below the poverty line in the U.S. reside in manufactured housing units, or mobile homes, which account for the most unsubsidized affordable housing in the country.
A recent report from real estate listing site Apartment List finds that 5.6 percent, or 17.7 million Americans, live in manufactured homes, a number that is expected to grow. The mobile homes have the highest share of housing stock in the South and Southwest, and are attracting many Sun Belt seniors looking to cut costs and downsize. Apartment List senior research associate Sydney Bennett adds, “I do think we could see a renaissance." In the 100 largest metros in the country, mobile home residents spend about 40 percent less on housing than their stick-built counterparts, Realtor.com reports.
Mobile homes "could be viewed as the best option to get more people into single-family homeownership,” says Dave Anderson, executive director of National Manufactured Home Owners Association. Unlike tiny homes, for which you pay less but also get less space, the square footage of mobile homes is increasing, making them a better buy, he says. However ... mobile homes are sold separate from the land in the trailer park. If the owner of the trailer community sells the land for another purpose, the residents have to move. Since many “mobile” homes are no longer actually mobile, the owners have to buy another trailer and move to another location.