Rents Grow & Vacancy Rates Shrink in Manufactured-Home Communities

A new study says that as the demand for workforce housing is growing, so too is the demand for renting in manufactured-home communities (MHC).  Citing a recent study from Marcus & Millichap, the Scotsman Guide is reporting that this trend is being fueled by the relatively low price of renting in an MHC compared to the cost to rent an apartment.  They say that as a result of this demand, vacancies within MHCs are decreasing, causing rents to rise.  Indeed….A little Econ 101:

“The shrinking vacancy rate is boosting rent growth nationwide, Marcus & Millichap reported, with manufactured-housing units in the Southeast region posting the largest year-over-year rent increase this past July…”

Click here to read the full story at the Scotsmanguide.com.