National Occupancy, Rents Show Positive Trends in 2018
Each month, Datacomp Appraisal Services releases a new set of updated information on manufactured housing communities in specific U.S. markets. In addition, this time each year, Datacomp provides an annual national summary of all major housing markets.
The annual information comes from all 160 major housing markets covered by our team.
Datacomp and JLT data always is published so manufactured housing professionals will find the value it lends to business. We provide a comprehensive look at investment-grade properties. This enables informed decision making for industry professionals including:
- Owners
- Managers
- Lenders
- Appraisers
- Brokers
2018 Annual National Summary
The JLT Summary for 2018 shows increases in adjusted rent and occupancy across the board. The industry growth is evident for All-Ages and 55+ communities in every region.
Occupancy rates nationwide rose 1.2 percent year over year, with All-Ages communities bumping up 1.5 percent to 91 percent, and 55+ communities increasing 0.6 percent to 96 percent nationwide.
Adjusted rents increased nationwide year over year by 3.5 percent for all communities, to $526 per month. The same rents at All-Ages communities rose 3.7 percent to $507 monthly.
The biggest increase in monthly adjusted rents occurred in All-Ages communities in the West and Southwest, with 4.4 and 4.6 percent gains respectively. For 55+ communities, the South and West regions led the way in rent increases, each with an increase of 3.8 percent.
For increases in regional occupancy, gains in All-Ages communities in the Southwest outpaced the rest of the country, with an increase of 4.6 percent. In 55+ communities, the Midwest led the way in occupancy increases, up 2.7 percent for the year. However, most markets with lesser gains in occupancy already were operating at 90+ percent, while Midwest and Southwest properties had been operating in the high-80s for occupancy percentage and therefore had more to gain.
For more information on JLT Market Reports and Datacomp custom reports, including detailed information on communities where you operate, visit https://reports.datacompusa.com/.
