Rising prices also hit mobile home market
Source: Forbes
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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.
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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.
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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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