Affordability Key Reason to Consider Manufactured Housing
The Manufactured Housing Institute’s new consumer survey shows satisfaction among manufactured home owners is trending upward, as is an interest in manufactured housing from younger demographics and those considering a home purchase in the next 12 months. The research details the manufactured home features that respondents find important, among them quality, affordability, amenities, and stand-alone homes that offer outdoor access. Overall, industry innovation is being noted and recognized and presents an opportunity to continue to manufacture quality homes that are clearly in demand.
Trifecta Research Group’s Senior Vice President of Client Solutions Linda MacKenzie thought 2018’s MHI survey response with a 78 percent satisfaction rate reported by manufactured home residents who bought new homes would be tough to top.
Updated 2023 data revealed that 85 percent of manufactured homeowners who purchased a new home reported that they are “extremely” or “very” satisfied with their home, a 7-point increase from 2018. A strong majority of manufactured homeowners (72 percent) said that they are likely to recommend manufactured homes to others.
Today’s manufactured home residents are younger, more educated, and more likely to include children.
At recent MHI meetings in Houston and Las Vegas, MacKenzie provided attendees with an overview of the consumer survey research findings. This research revisited MHI’s consumer research from 2018, and expanded upon the original study to include not only those who live in manufactured homes and communities, but also those consumers considering purchasing a manufactured home.
Key findings from the presentation include:
- Manufactured home residents have very positive impressions of their experiences. Overall, 81 percent of manufactured homeowners report a “very positive” or “positive” overall feeling about their home.
- For residents of land-lease communities, 72 percent of those in 55+ communities are extremely/very satisfied with their community; for all-age communities, satisfaction is 56 percent.
- 82 percent of residents living in a 55+ community are extremely/very likely to recommend living in a manufactured home; and 69 percent of residents in all-age communities are likely to recommend living in a manufactured home.
The demographics of manufactured home residents shifted slightly from the 2018 survey. Today’s manufactured home residents are younger, more educated, and more likely to include children.
People living in manufactured homes are not only very satisfied with their homes, 72 percent of those surveyed said they were likely or extremely likely to recommend manufactured home living to others.
Residents in Today’s Communities
The amenities in today’s land-lease communities drove the residents’ overall community satisfaction rate of 59 percent. Pools, parks and playgrounds are the most common community amenities. In response to the growing appeal of community living to families with children, some communities offer additional amenities focused on these youngest residents, including play centers and after school programming.
Although the cost of living in a land-lease community has increased since 2018, 53 percent of residents said the increase was similar than comparable options in their area. More land-lease communities now include utilities such as water/sewage (58 percent), garbage (46 percent) and electricity (34 percent).
The Considerers
The survey also included people planning to buy a home in the next 12 months who were open to considering buying manufactured homes. These “considerers” were somewhat younger, more likely to be single and had more modest household incomes than current manufactured home residents.
They reported currently living in stand-alone homes and apartment or condos in multi-unit buildings. They said they felt positive or very positive (82 percent) about living in a manufactured home. The top factors they mentioned that drove their consideration were affordability and the ability to own their own home. Four in 10 said that manufactured homes have newer features than other types of homes they can afford to buy.
The top five features that attracted considerers to manufactured housing were affordability (70 percent), energy efficiency (53 percent), additional space (49 percent), stand-alone homes (46 percent), and outdoor space (45 percent).
