Data released by the U.S. Census Bureau reveals a mixed pattern in prices for new manufactured homes, depending on month, single vs. multi-sectionals and the region of the country.
For example, single sectional manufactured homes in the Northeastern United States in January, 2014 sold for an average of $48,700 in January 2014, while in March 2016, the average single sectional (“single wide”) sold for $45,100.
During the same time frame, a multi-sectional in the Northeast in January 2014 sold for an average of $92,600. In March, 2016 the average mult-sectional (“double wides”) sold for $103,200. In all cases, as is routine for manufactured home retail pricing, they are priced “home only,” without the cost of land, improvements to property, or site fees if land is leased for placement.
The full breakdown by region and total dollars for single and multi-sectional homes follows.
| Northeast | States | ||
| Total 1 | Single | Double | |
| 2014 | |||
| January | 72100.0 | 48700.0 | 92600.0 |
| February | 59100.0 | 40600.0 | 76200.0 |
| March | 76400.0 | 43100.0 | 91600.0 |
| April | 61300.0 | 44000.0 | 82500.0 |
| May | 62900.0 | 50200.0 | 76200.0 |
| June | 73800.0 | 47000.0 | 94900.0 |
| July | 57900.0 | 43900.0 | 73300.0 |
| August | 71700.0 | 43100.0 | 93600.0 |
| September | 71900.0 | 45000.0 | 88500.0 |
| October | 63400.0 | 50900.0 | 73600.0 |
| November | 80500.0 | 58000.0 | 98300.0 |
| December | 68100.0 | 55300.0 | 77500.0 |
| 2015 | |||
| January | 64700.0 | 45600.0 | 77200.0 |
| February | 66500.0 | 50000.0 | 88800.0 |
| March | 89000.0 | 52300.0 | 114000.0 |
| April | 69400.0 | 48900.0 | 88800.0 |
| May | 69500.0 | 46100.0 | 84700.0 |
| June | 68100.0 | 53200.0 | 90700.0 |
| July | 68000.0 | 47700.0 | 83100.0 |
| August | 73300.0 | 53600.0 | 94100.0 |
| September | 71600.0 | 54400.0 | 91400.0 |
| October | 77100.0 | 45100.0 | 95200.0 |
| November | 79000.0 | 52500.0 | 90600.0 |
| December | 74200.0 | 52100.0 | 95300.0 |
| 2016 | |||
| January | 69400.0 | 48100.0 | 90700.0 |
| February | 81500.0 | 50000.0 | 97300.0 |
“Total 1” represents the combined average price in dollars of single and multi-sectional homes.
| Midwest | States | ||
| 2014 | Total1 | Single | Double |
| January | 72,000 | 51,400 | 88,200 |
| February | 59,700 | 44,800 | 86,100 |
| March | 58,100 | 45,100 | 81,800 |
| April | 59,100 | 45,700 | 78,500 |
| May | 61,700 | 46,800 | 79,600 |
| June | 58,700 | 45,600 | 81,200 |
| July | 61,600 | 45,200 | 77,800 |
| August | 60,200 | 46,800 | 80,900 |
| September | 59,000 | 41,600 | 78,500 |
| October | 64,500 | 50,900 | 78,700 |
| November | 61,600 | 47,600 | 84,700 |
| December | 57,000 | 45,600 | 72,900 |
| 2015 | |||
| January | 57,000 | 43,700 | 78,300 |
| February | 59,600 | 47,500 | 80,600 |
| March | 60,900 | 47,400 | 86,400 |
| April | 59,700 | 47,900 | 75,000 |
| May | 61,800 | 43,000 | 92,600 |
| June | 60,500 | 45,900 | 84,200 |
| July | 62,600 | 48,500 | 84,600 |
| August | 61,600 | 45,700 | 90,000 |
| September | 63,900 | 50,600 | 83,900 |
| October | 56,500 | 43,100 | 79,700 |
| November | 61,100 | 47,300 | 84,500 |
| December | 63,300 | 46,600 | 85,900 |
| 2016 | |||
| January | 61,400 | 48,200 | 86,800 |
| February | 57,900 | 45,600 | 85,100 |
| March | 59,200 | 46,200 | 83,200 |
As might be expected, prices were lowest in the South, somewhat higher in the Midwestern states, and the hightest in the Northeast and the West.
| Southern States | |||
| 2014 | Total1 | Single | Double |
| January | 63,800 | 46,900 | 80,700 |
| February | 62,200 | 44,800 | 79,700 |
| March | 63,600 | 42,400 | 82,100 |
| April | 66,100 | 43,900 | 81,300 |
| May | 64,000 | 44,200 | 76,100 |
| June | 62,600 | 44,600 | 81,000 |
| July | 61,200 | 45,700 | 77,800 |
| August | 66,400 | 43,300 | 87,800 |
| September | 66,000 | 44,500 | 80,900 |
| October | 59,000 | 44,400 | 74,700 |
| November | 59,100 | 39,900 | 78,300 |
| December | 62,000 | 45,500 | 75,000 |
| 2015 | |||
| January | 64,600 | 44,900 | 79,400 |
| February | 65,900 | 45,600 | 84,200 |
| March | 63,200 | 44,100 | 80,300 |
| April | 64,700 | 46,800 | 82,200 |
| May | 68,100 | 49,000 | 85,600 |
| June | 66,100 | 44,000 | 83,700 |
| July | 59,800 | 42,900 | 78,400 |
| August | 62,800 | 39,400 | 80,700 |
| September | 68,500 | 46,800 | 85,500 |
| October | 65,500 | 43,200 | 82,200 |
| November | 63,200 | 42,500 | 84,000 |
| December | 69,200 | 45,700 | 85,500 |
| 2016 | |||
| January | 65,200 | 44,600 | 80,200 |
| February | 65,300 | 43,000 | 89,700 |
| March | 69,600 | 44,100 | 86,300 |
As most industry professionals know, the 40th anniversary of the production of HUD Code manufactured homes began on June 15, 1976, to learn more, click here.
| Western States | |||
| Total1 | Single | Double | |
| 2014 | |||
| January | 87,700 | 55,400 | 93,900 |
| February | 79,600 | 48,800 | 90,800 |
| March | 84,400 | 46,700 | 90,300 |
| April | 77,100 | 47,600 | 92,900 |
| May | 77,400 | 49,000 | 88,900 |
| June | 82,300 | 44,200 | 92,300 |
| July | 79,300 | 45,200 | 92,900 |
| August | 75,400 | 45,800 | 88,900 |
| September | 80,200 | 39,900 | 90,100 |
| October | 77,100 | 47,100 | 84,700 |
| November | 84,800 | 57,400 | 95,100 |
| December | 86,900 | 52,600 | 91,800 |
| 2015 | |||
| January | 102,500 | 42,600 | 107,700 |
| February | 90,200 | 45,500 | 99,600 |
| March | 79,300 | 53,600 | 96,600 |
| April | 89,600 | 45,100 | 111,100 |
| May | 83,400 | 44,200 | 100,700 |
| June | 93,700 | 46,700 | 102,800 |
| July | 88,200 | 46,800 | 101,000 |
| August | 89,200 | 48,200 | 106,400 |
| September | 90,100 | 49,700 | 97,900 |
| October | 78,900 | 47,300 | 95,400 |
| November | 96,100 | 51,000 | 110,300 |
| December | 84,400 | 44,600 | 96,400 |
| 2016 | |||
| January | 86,900 | 50,000 | 96,100 |
| February | 84,800 | 45,400 | 106,600 |
| March | 83,200 | 42,500 | 97,000 |
Totals in dollars for all four regions used by the U.S. Census Bureau, are as follows.
| United States | |||
| Total1 | Single | Double | |
| 2014 | |||
| January | 68,300 | 48,000 | 84,500 |
| February | 64,300 | 45,000 | 82,200 |
| March | 65,700 | 43,200 | 83,900 |
| April | 66,400 | 44,700 | 83,000 |
| May | 65,400 | 45,700 | 78,300 |
| June | 65,200 | 44,900 | 84,000 |
| July | 63,500 | 45,400 | 80,100 |
| August | 67,100 | 44,200 | 87,600 |
| September | 67,000 | 43,600 | 82,600 |
| October | 62,400 | 46,000 | 76,900 |
| November | 64,200 | 43,700 | 83,500 |
| December | 64,800 | 46,200 | 78,100 |
| 2015 | |||
| January | 68,400 | 44,600 | 84,400 |
| February | 68,300 | 46,200 | 87,000 |
| March | 66,200 | 46,100 | 85,000 |
| April | 67,400 | 46,900 | 86,500 |
| May | 69,500 | 47,300 | 89,100 |
| June | 69,100 | 45,500 | 87,500 |
| July | 64,500 | 44,400 | 83,700 |
| August | 67,000 | 42,900 | 87,100 |
| September | 70,700 | 48,400 | 87,700 |
| October | 66,800 | 43,800 | 84,900 |
| November | 68,000 | 44,300 | 89,400 |
| December | 70,800 | 46,200 | 88,100 |
| 2016 | |||
| January | 67,600 | 45,900 | 84,100 |
| February | 67,600 | 43,900 | 92,600 |
| March | 69,800 | 44,500 | 88,300 |
By comparison, the U.S. Census Bureau’s latest report showed the following figures for number of new conventional construction or “site built” housing sales by price ranges in March 2016 as follows in the chart below. The figures are rounded, and are thousands of units per price range. Notice that only some 2,000 units were sold under $150,000.
Clearly, there is room for growth for manufactured housing in this era of the growing affordable housing crisis. A download of the manufactured housing data above is available at this link.
The latest U.S. Census Bureau data for “residential” (single-family, conventional, on site construction) of new houses can be downloaded from this link here.
To see Part II of this multi-part series on manufactured housing industry statistics, please click here. ##
(Image credits are as shown above.)
(Editor’s Note: Matthew Silver is taking some much needed and well-earned time off, and L. A. “Tony” Kovach will be helping fill the Daily Business News role in the interim).
Article submitted by L. A. “Tony” Kovach, to the Daily Business News for MHProNews.
