Manufactured Home Supply Boost Planned

September 28, 2021
Manufactured-Home-Supply-Boost-Plan
Owners of manufactured homes have a household income of $30,000 per year on average.

 

The Biden Administration recently rolled out a major initiative to take immediate, tangible steps to increase the supply of affordable housing. The Manufactured Housing Institute (MHI) is encouraged that two important components of this package are steps to boost the supply of manufactured homes and a commitment to work with local governments to reduce exclusionary zoning. More than 22 million people have chosen manufactured housing because of its affordability and value.  Manufactured homes are often available at lower monthly payments than other rental options. The median household income of manufactured home residents is $30,000 per year, which is less than half of the median household income of an owner of a single-family home. Last year, manufactured homes accounted for almost 10% of new single-family home starts. According to a 2020 HUD report, “Factory-built housing has undergone many physical changes that have made it more similar to, and in many ways indistinguishable from, conventional site-built housing…Quality improvements in construction and installation practices have increased durability so that the life expectancy of factory-built housing increasingly is comparable to that of site-built or onsite housing.”  MHI looks forward to implementation of this initiative.

Source: HousingWire