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MANUFACTURED HOUSING

Industry Overview

  • Approximately 50,000 U.S. land leased communities with fragmented ownership

  • Approximately 3,000 communities with 200 or more home sites, and approximately 12,000 communities with 100 or more home sites

  • Of those communities with 200 or more sites, the five public REITs own less than 10% and the top 150 community owners own approximately 50%

  • 22.5 million people or about 8% of U.S. population lived full-time in 10 million manufactured homes

  • Homes are built in a factory with strict adherence to the U.S. Department of Housing and Urban Development (HUD) building requirements

  • Studies suggest that satisfaction is 90% or higher with manufactured home owners

  • About 2/3 of manufactured homes are located on private property and 1/3 are located in communities

  • Average sales price is about $50,000, compared to the $175,000 average cost of a site-built home

  • Average square footage of a single-wide home is 1,120 (12 – 16’ wide X 44 – 88’ long) and a double-wide home is 1,715 (24 – 42’ wide X 36 – 80’ wide)

  • About 25% of shipments are single section homes, while 75% of shipments are multi-section homes

  • Site leases are generally for twelve months

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