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Manufactured Housing Institute

If homeownership feels like it’s beyond your reach, don’t throw in the towel just yet on the American Dream. In the face of an ever-widening housing affordability gap, there are options you may not have considered. Manufactured homes (factory-built homes) are commonly available at lower monthly payments than what it costs to rent, providing an affordable path to homeownership for millions of Americans. Manufactured homes can be found anywhere in the country, in rural, suburban, and urban communities.

There are 8.6 million manufactured homes nationwide, representing nearly 10 percent of the nation’s housing stock.

These days, manufactured homes are being built with quality construction to meet rigorous federal standards for safety, installation, and construction. They come with features that today’s homebuyers want like luxury bathrooms and state-of-the-art kitchens with energy-efficient appliances. What’s more, many are often situated in communities with swimming pools, playgrounds, and clubhouses.

While these amenities may sound like they come with a hefty price tag, manufactured homes provide quality housing at a lower cost. Indeed, the average price of a new, single-section manufactured home is less than $46,700 without land, and $89,500 for a multi-section, compared to $286,814 without land for a site-built home.

It’s important to remember that the affordability of manufactured homes is not a product of lesser quality, but rather the efficient way the homes are produced. That savings is passed on to the homebuyer.

The terms of a manufactured home purchase differ from site-built homes. Be sure to ask the right questions at signing, including whether the home and its components come with warranties. Manufactured homes can be found anywhere in the country, in rural, suburban, and urban communities.

If you are ready to take the step of saying goodbye to writing rent checks, do your research to discover the varied paths to affordable homeownership available today.

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