The following is a report from MSN.com.
Though home prices have come down in some areas, they remain steep across the U.S.
In the face of such expensive real estate, many would-be buyers may consider more affordable options like manufactured or mobile homes. But just because mobile homes are typically less expensive than more traditional site-built, single-family housing, it doesn’t mean they’re cheap.
On the contrary, our newest analysis of U.S. Department of Housing and Urban Development (HUD) and U.S. Census Bureau data finds that the average sales price of new mobile homes in the U.S. easily tops six figures. In addition, our analysis finds that the sales price of new mobile homes rose faster than the sales price of new single-family homes between 2017 and 2022.
Key findings:
The average sales price of new mobile homes sold in the U.S. rose by 77.1% between 2017 and 2022. In contrast, the average sales price of new site-built, single-family homes (excluding land) rose by 46.7% over the same period.
New mobile homes sold in the U.S. cost $127,300, on average. Though this is a significant amount of money, mobile homes are considerably cheaper than their site-built, single-family counterparts. As of 2022, the average sales price of new single-family homes (excluding land) was $430,808 to $303,508 more than that of new mobile homes.
New mobile homes sell for the most money, on average, in Idaho, Montana and Arizona. The average sales price of new mobile homes in these states is $168,500, $160,600 and $160,500, respectively.
New mobile homes sell for the least in Kansas, Ohio and Nebraska. In these states, new mobile homes sell for an average of $100,800, $101,200 and $101,900, respectively.
Mobile home prices have increased the most in Wyoming, Illinois, Kentucky and Mississippi. Though mobile homes in these states aren’t as expensive as in others, prices have grown dramatically in recent years. In these states, the average sales price of new mobile homes jumped by 127.6%, 110.1%, 107.3% and 103.7%, respectively, between 2017 and 2022. These are the only states where prices more than doubled in this period.
The average sales price of new mobile homes fell in only one state, Massachusetts, between 2017 and 2022. Prices fell by 5% in the Bay State. But that doesn’t mean buying a mobile home in Massachusetts is cheap – the average sales price of new mobile homes there is still among the highest in the nation, at $138,500.
See the full report from MSN here.
