Elyria OH Mobile Homes & Manufactured Homes For Sale - 21 Homes | Zillow (2024)

FAQs

What is the primary difference between a mobile home and a manufactured home? ›

The Difference Between Mobile and Manufactured Homes

Manufactured homes and mobile homes are regulated by the Department of Housing and Urban Development (HUD). The only difference between the two types of homes is the date they were built.

The most common sizes range from 1,300 to 1,800 square feet. Average prices for this size are about $107,000. Triple-wide: These homes have a maximum of 3,000 square feet. The average cost of a new mobile home of this size ranges up to $250,000.

Manufactured homes may not hold value like traditional homes but may keep it better than other assets, such as vehicles. The value depends on the housing market, price and age of the house, inflation rate, maintenance and upkeep and other factors.

Manufactured Housing Shipments by Location

Fast-growing, high-population southern states like Texas, Florida, and North Carolina rank among the top states for total manufactured home shipments.

While there is no holistic cut off for the oldest mobile homes that can be insured, there are more costs associated with homes that are older than the 1976 cut off date due to safety reasons set up by The Department of Housing and Urban Development (HUD).

Manufactured Home Defined

Modern manufactured homes can come in three general floor plans: Single-wide: A home built as one long section. Double-wide: Two sections joined to make a larger home. This model is popular with first-time home buyers.

If you're looking for affordability, Kansas may be your best bet. This Midwestern state offers a variety of affordable options for mobile home buyers. With a lower cost of living and a more relaxed real estate market, Kansas stands out as one of the most affordable states for mobile homes.

The largest number of mobile homes shipments in the U.S. was recorded in Texas in 2022. In total, there were almost 20,000 manufactured housing units shipped in Texas. The state also ranked highest in terms of cumulative number of mobile homes.

The size of the home often dictates the number of bedrooms and bathrooms it can accommodate. Smaller double wides may offer two to three bedrooms, while larger models can provide up to five. The number of bathrooms usually ranges from two to three, depending on the home's size and layout.

Mobile homes – which are also known as trailer homes or manufactured homes – are not safe structures to shelter in during severe weather events, particularly events that involve tornadoes.

Are mobile homes a good investment in 2024? ›

High Demand and Rental Potential

The potential for positive cash flow is significant, as rental rates can be competitive, especially in areas where the cost of living is high. This demand is projected to continue growing in 2024, making mobile homes an appealing option for investors seeking steady rental income.

In just one example, a Marmol Radziner–designed mobile home is currently listed for $4 million, while about 30 trailers have sold in the past three years for up to $5 million, according to Zillow data cited by The Wall Street Journal. Agents, however, have heard of off-market deals stretching to $7 million.

Skyline Champion Corporation (NYSE: SKY) is the largest independent, publicly traded, factory-built housing company in North America and employs approximately 8,100 people.

Unlike modular homes, mobile homes are built with a chassis and wheels. They are built in a single piece in a factory and transported as a single unit.

Of course, modular houses have their downsides. These include less customization capabilities than stick-built homes. The cost of the land and construction of the home may be higher than some people can afford, land restrictions, and perceive quality issues. Modular homes may also have more a complicated loan process.

With the HUD Code seal of approval, manufactured homes automatically meet regional standards for roof load, wind resistance, thermal efficiency, safety and durability, meaning they're not any more vulnerable to storm, hurricane or tornado damage than a site-built home.

No matter what type of manufactured home you live in, it is not a safe place to take shelter during a severe weath- er event. MOVE TO A SAFER STRUCTURE. Single family homes are safer, but not completely safe.