Rising prices also hit mobile home market

Source: Forbes

Another effect of the pandemic: the rising costs of mobile homes, which account for roughly 6% of residences in the United States. The average price for those homes has gone up nearly 50% in the past couple years, rising from $82,900 to $123,200. Also, many owners pay monthly rent for the land, and in some parts of the country, that rent has doubled or tripled in recent months.
Two main factors behind this spike: 1) Corporate park owners and institutional investors buying up privately-owned parks and pushing up lot rental rates and 2) Surging demand for mobile homes due to the high housing prices and low supply.

Our take

These numbers show that, across the board, the price of real estate is increasing. It’s not just single-family homes—it’s condos, multi-family units, manufactured homes, mobile homes, and everything in between.

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