The obvious lure is the price tag. The typical California manufactured home is valued at $110,200 vs. $648,100 for a California single-family home.
October 21, 2022 at 7:35 a.m.Of course, they could.
California has 508,589 manufactured homes, No. 4 among the states. But considering the state’s vast size, that’s only 3.5% of the 14.5 million California residences – the 14th smallest share in the nation. The 16 states where it’s hardest to find a manufactured home — including California — have 1.65 million of them — or just 3% of total residences.Meanwhile, the 16 states most friendly to manufactured homes had 3.91 million of them — or 10% of all residences.
You rent, not own, the land in a mobile-home park. Mortgages are pricier because the collateral is just the home, not the land. And manufactured housing’s value tends to depreciate in the long run.Maxcy, who started in the industry 60 years ago, has a collection of shock-value stats about this pricing gap.
So why aren’t these homes a key part of the affordable-home solution? Especially when traditional builders complain about the difficulty and costs of completing construction when materials are pricey and labor is in short supply. The construction costs of a home – minus land – can triple on-site vs. housing from an assembly line.
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