Manufactured Home Communities
National Housing Shortage Necessitates Non-Traditional Residential Options;
Leased Community Lots Gain Popularity
Manufactured home shipments to communities on the rise. In the first seven months of 2023, roughly 50,000 new manufactured homes were shipped. While this count was down year-over-year, strict zoning laws and other land-use preferences mean that fewer new manufactured home communities are being established, leaving these home buyers with limited rentable lot options outside of existing communities. In 2022, roughly 59 percent of all new manufactured homes were placed in a community or subdivision, a figure that increased by 80 basis points year-over-year. Around 36 percent of these new homes were put in a manufactured home community, where lots are leased, demonstrating a growing demand for rentable lot space. Nearly 112,900 manufactured homes were shipped in 2022, translating to over 40,600 homes placed on leased land. The increasing competition will keep the national lot vacancy rate low.