The U.S. continues to face both a housing shortage and an affordability crisis, and policymakers and home developers are seeking solutions. In many parts of the country, one proposed solution is manufactured housing. Currently, 21.2 million Americans live in these more affordable homes, which make up about 10% of new homes built annually, according to Construction Coverage. While these homes are popular nationwide, Southern states—such as Texas and Florida—have the highest number of new manufactured homes, while lower-income states—including Mississippi, Kentucky, and Louisiana—have the highest share of manufactured homes among all single-family homes.
The average sale price of manufactured homes in 2023 was $124,300. For context, Zillow pegs the median home value in the United States at slightly over $362,000. While manufactured homes remain relatively low-cost, the growing demand for housing has pushed prices higher in recent years. Since 2014, the average sale price of a manufactured home has grown by 83.0%, while the average price across all homes climbed 94.6%. For both manufactured and site-built homes, most of this growth occurred in 2020 and 2021, before plateauing in 2022 amid rising interest rates.