Two years of significant home price appreciation have resulted in national concerns about housing affordability. However, in new research by Freddie Mac, 6-in-10 individuals say they would consider purchasing the type of dwelling that has become the largest source of unsubsidized affordable housing in the United States: manufactured housing.
Construction costs for manufactured homes are typically lower, which may have contributed to their popularity in recent years. According to recent U.S. Census data, 6.2% of people currently live in manufactured homes.
A recent Freddie Mac housing survey shows general familiarity with manufactured housing. In the study, 62% of people say they are likely to consider purchasing a manufactured home in the future.
Perception of Manufactured Homes
The overall perception of manufactured homes is positive, according to the survey results.
All told, 77% of people who are aware of manufactured homes expressed a positive sentiment toward these homes, describing them as “new,” “efficient,” “affordable,” and “easy.” Most agree that there are tangible benefits to manufactured homes, including the following:
- Allow a wide range of customization.
- Affordable without compromising on quality,
- Eco-friendly and energy efficient.
- A good investment.
Who is Likely to Consider Buying a Manufactured Home?
Although 62% of people say they are likely to consider purchasing a manufactured home in the future, certain populations are more likely than others to buy them. The survey results were analyzed by generation, race, urbanicity, and household income to take a closer look at trends in the likelihood of purchasing a manufactured home.
Household income did not affect respondents’ report of likelihood to purchase, but the survey data shows that those with an annual income less than $50,000 have significantly more positive perceptions of manufactured homes than the total sample of other groups.
Likelihood to Consider Purchasing: By Generation.
Generation: Likelihood to Purchase:
Millennials 68%
Gen X 62%
Gen Z 61%
Boomers 40%
Note: The 2022 Manufactured Housing Survey was fielded April 7-11 and includes responses from 2,092 respondents aged 18 and older. The survey oversampled for Black and Hispanic consumers, Gen Z, and Millenials.
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