Surging home prices and rents are cascading down to the country’s mobile home parks, where heightened demand, low supply and an increase in corporate owners is driving up monthly costs for low-income residents with few alternatives, the Washington Post reported. At the same time, private-equity firms and developers are often circling nearby, looking to buy up such properties and turn them into more lucrative ventures, including timeshare resorts, wedding venues and condominiums. Mobile homes have long been one of the country’s most affordable housing options, particularly for families who do not receive government aid. About 20 million Americans live in manufactured homes, which make up about 6 percent of U.S. residences, according to federal data. Some experts suggest those numbers could soon rise as more people are priced out of traditional houses and apartments. Mobile homes prices range from less than $25,000 in Nebraska, Iowa and Ohio, to more than $125,000 in Washington state. Overall, they tend to be three to five times cheaper than traditional single-family homes, according to an analysis of census data by LendingTree. But rising demand for affordable housing has put particular pressure on the market. Nationally, the average sales price of manufactured homes has risen nearly 50 percent during the pandemic, from $82,900 to $123,200, census data shows. Meanwhile, average new home prices rose 22 percent in that period, according to government figures. However, less is known about how much mobile homeowners pay to rent the land under their homes. Lot rents typically rise between 4 and 6 percent a year, according to industry sources, though there is little data on exact costs or price increases. That lack of transparency is complicated by the fact few cities or states have rules governing rent increases at mobile home parks. “Land prices are going up, housing costs are going up and that’s spilling into mobile homes,” said Casey Dawkins, a professor of urban studies and planning at the University of Maryland. “There’s also an overall shortage of affordable housing, particularly in cities and the suburbs around them.”
