Manufactured Housing News

Currently, manufactured homes are considered a viable alternative to the affordable housing crisis. However, the number of traditional site-built homes sold in the first 5 months of 2021 significantly exceeded the number of manufactured homes sold during the same period of time. The most important reason for this arises from the fact that manufactured homes represent only a small piece of the housing market. Furthermore, even though this market sector continues to demonstrate signs of strength and is expected to boom over the next few years, modern factory-built housing is relatively new to consumers and investors.

The housing market has changed dramatically over the past year. According to recent data, rental rates have risen substantially in some areas, while decreasing in other locations. Additionally, home prices have increased coast to coast, outstripping wage growth and rents. Thus, determining whether renting a home makes more financial sense than owning a manufactured home is a little bit more difficult than it once was. Because choosing to rent a home or buy a manufactured home is a major decision that can affect your financial situation as well as your lifestyle, we've gathered below a few factors you should consider in order to make an informed decision.

The short answer is yes. The long answer is: it depends. That's because a manufactured home must comply with certain requirements in order to be considered real property. Since the process of classifying a manufactured home as real property varies by state and local jurisdictions, the local governments have developed specific statutes that set forth the procedures for classifying a manufactured home as real property.