A recent article on Bloomberg poses the question; Are mobile homes a solution to an affordable housing shortage? When you consider that the average sales price of a new mobile home was $68k compared to $380k for a new site-built home it does makes some sense. Interestingly, mobile homes are highly concentrated in the South however California leads the nation with over 500k of them. The article even suggests that a re-branding is in order to over come past stigmas – asking, are they the new “tiny house?” Either way, the manufactured home industry has come a long way in recent years and is definitely a viable option for many Americans.
“…mobile homes are cheap at a time when the home ownership rate is at a record low and a dwindling inventory of starter homes is driving up prices for first-time buyers. While mobile homes often make the most sense in sparsely populated areas, there’s no reason they can’t be used to increase the stock of affordable housing in U.S. cities.”