With over 40 million Americans moving each year, finding a new place to live can be challenging. After all, the housing market has so much competition that you’ll be lucky to find something you can even hope to afford. Mobile homes are an accessible, affordable, and easy-to-find alternative to traditional real estate.
But how much does a manufactured home cost, exactly? Here, we’re going to talk about what these buildings are and how much you’ll need to pay to live in one. Read on to learn about manufactured home pricing and why it’s so low.
What Is a Manufactured Home?
Manufactured homes are also referred to as “mobile homes.” This is because the structure is built off-site and brought to its final location. Its permanent chassis is then placed on a foundation within the lot that the buyer plans to live on.
People tend to think of cheap trailers in large trailer parks when they think of manufactured homes. This isn’t the case today even if it was true in the past.
There are hundreds of possible floor plans for mobile homes. You also can have the same features attached that you would enjoy in a traditional home. This means that you can add a garage, patio, porch, or deck.
You also don’t need to live in a trailer park with dozens of other people. Since manufactured homes are sturdy, permanent structures, you can park them on a lot with a private yard. You won’t necessarily be any closer to your neighbors than you would be in a traditional house.
How Much Does a Manufactured Home Cost?
There are two types of manufactured homes: single-wide and double-wide. Single-wide homes generally span 20-32 feet (width) or 42-60 feet (length). A double-wide home is the size of two single-wide homes combined.
The cost depends on the size that you choose.
As of the end of 2021, buying an average single-wide mobile home cost about $76,900. A double-wide option cost about $170,600. The combined average of all manufactured homes for sale was $145,200.
If you can’t afford to buy a traditional home, a manufactured home is a great alternative. If you don’t want to purchase a mobile house, you can also rent one inexpensively. It’s possible to rent a mobile home for well under $1000 per month. The average rent is actually between $200-$800 in many states.
Is This a Lot Lower Than Alternatives?
Renting an apartment in the US costs an average of $1827 monthly. This is also not a stationary figure, but one that’s currently rising. The national median rent is 16.7% higher than it was even one year ago.
Even if you were to rent a prefabricated home on the high-rent end ($800), you would still be paying $1027 lower than those who rent traditional apartments. So, yes, renting a manufactured home is extremely inexpensive compared to other units.
Buying a manufactured home is also much cheaper than purchasing a traditional house. The average American home costs around $374,900. A mobile home will literally save you hundreds of thousands of dollars.
Cost and Quality: A Comparison
Higher-priced homes generally correlate with more space and higher quality. But with mobile homes, you can throw these preconceived notions out the window.
In many cases, mobile homes and traditional houses are very similar-looking. They no longer look like low-end trailers. There are diverse styles, shapes, exterior designs, and interior layouts.
You also won’t need to live in a crowded trailer park or even a heavily populated area. When renting a traditional $1827 apartment, you would live in a small building with multiple noisy neighbors. However, a much-cheaper prefabricated home that you only pay $800/month for would be more spacious and private.
The home itself would be larger and afford you a higher quality of living. You also wouldn’t need to worry about neighbors bothering you because of your proximity to them. Plus, since you can have outdoor living areas as well as a yard, you’ll get more space for less money.
With this in mind, it makes sense to question whether mobile homes are stable and sturdy enough to withstand different weather conditions. Luckily, the answer to that is a resounding “yes!”
Mobile homes are made with top-notch stainless steel. It’s completely water-resistant and is heavy enough to ensure that the wind can’t blow it away. Bolts are tight and the building is constructed with heavy-duty materials.
Are There Any More Ways Prefab Homes Save Money?
In the eyes of the IRS, owning a mobile home is the same as owning a house. This means that you’ll need to pay taxes on it. If your manufactured home is considered personal property, it will also be taxed independently of the land that it sits on.
This may sound like bad news, but it isn’t in most cases. Because the home is so inexpensive, taxes are lower. You won’t be taking as huge a hit at tax time because of property taxes.
In some cases, utility fees may also be less expensive. However, this largely depends on the location of your manufactured home. Regardless of any other factors, the main way that prefabricated structures save money is by significantly lowering rent.
Beyond the Basics of Mobile Home Pricing
So, how much does a manufactured home cost?
The answer varies, but it almost always is “less than buying or renting traditional alternatives.”
Now that you have a more comprehensive understanding of mobile home expenses, it’s time to begin to process of purchasing or renting one. Our experts are committed to ensuring that you find the right place for you to enjoy life. Browse mobile homes for sale to choose a location and find your new residence.