"Last month, Members of Congress were treated to an on-the-ground look at manufactured housing the sector of the housing industry that holds the greatest promise for meeting our nation's affordable homeownership and rental housing challenges. At the U.S. Department of Housing and Urban Development (HUD) Innovative Housing Showcase in early September on the National Mall, several manufactured homes were placed just a few miles from the Capitol."
"It is important to keep in mind that manufactured housing is the only homeownership option governed by a national uniform set of rigorous construction and safety standards the HUD Code. And, at a time when policymakers lament how difficult it is for young families to buy their first home, manufactured housing is by far the most affordable homeownership option. Last year, the average price for a manufactured home was around $125,000, while the average price for a site-built home was over $400,000."
Manufactured housing uses factory-built construction efficiencies and then sites the home on land, reducing costs compared with site-built construction. HUD placed manufactured homes on the National Mall during an Innovative Housing Showcase to demonstrate the product’s potential. UMH Properties owns and operates over 140 manufactured housing communities nationwide where residents either own or rent homes and benefit from amenities like playgrounds, pools, and community facilities. Manufactured housing is governed by the national HUD Code of uniform construction and safety standards. Average manufactured-home prices were around $125,000 compared with over $400,000 for site-built homes, and lenders and agencies have supported Cross Mod homes with higher-end amenities at affordable price points.
Read at www.housingwire.com
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