After over two years of spiking real estate prices, mortgage rates, and rents, the housing affordability crisis is more apparent than ever—and expanding manufactured housing is one possible solution. The
After over two years of spiking real estate prices, mortgage rates, and rents, the housing affordability crisis in the U.S. is more apparent than ever. Policymakers, economic experts, and regular U.S. households have been searching for tools to alleviate the pressure of housing costs. Expanding manufactured housing is one possible solution.
For lower- and middle-income families, this more affordable option has significant appeal. Currently, 21.2 million Americans live in manufactured homes, and manufactured homes represent around one out of every nine new homes constructed in the U.S. each year. Further, the quality of manufactured homes has increased as well, with better materials, greater energy efficiency, and improved designs.
While manufactured homes remain relatively low-cost, the growing demand for housing has pushed prices higher in recent years. Since 2014, the average sale price of a manufactured home has grown by 82.6%, while the median value across all homes climbed 102.1%. For both manufactured and site-built homes, most of this growth occurred in 2020 and 2021 before plateauing in 2022 amid rising interest rates.
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