Mobile-Home Values Have Been Migrating Upward at Breakneck Speed

Mobile-Home Values Have Been Migrating Upward at Breakneck Speed

The movable homes cost a lot less than their stationary counterparts, but most buyers can still expect a healthy return on their investment.

Many homeowners across the country have seen spectacular gains on their investments amid the pandemic, though the soaring values have created a growing obstacle for would-be buyers. An extreme alternative for those who want to break free from renting is to hit the road in a recreational vehicle, as portrayed in the Academy Award-winning “Nomadland.” But between that lifestyle and the conventional American dream lies another option: the mobile home.

Mobile homes, unlike RVs, function the same as traditional stationary homes, except they can be moved to another site. And like traditional homes, they’ve seen their values rise steadily, according to a study by LendingTree. In fact, the study found, mobile-home values increased faster than those of traditional homes between 2014 and 2019, including in 27 out of 49 U.S. states. (Mobile homes were generally not allowed until recently in Hawaii). Though the timeline predates the pandemic, it shows that the return on investment has long been comparable.

The study, which used data from the U.S. Census Bureau’s latest American Community Survey, found that the national median value of a mobile home in 2019 was $53,000 — about $180,000 less than a traditional home. That was a 39 percent spike over the median value in 2014, while traditional homes rose by 33 percent over those five years.

Much of this depends on where you’re buying. In some states, like Nebraska, Iowa and Ohio, a mobile home could be had for less than $25,000, while in Washington, which had the highest mobile-home values, the median value was over $125,000. In Nevada, the value of a mobile home more than doubled over the five years; Delaware and Kansas were the only states where the value dropped.

This week’s chart shows the states with the most expensive mobile homes, and those where the changes were greatest between 2014 and 2019.

Mobile-Home Values

Most Expensive

STATE

MEDIAN HOME VALUES

Washington

Oregon

California

Nevada

Massachusetts

Vermont

New Mexico

New Hampshire

Rhode Island

North Carolina

Florida

Arizona

Maine

Tennessee

Oklahoma

$125,400

$93,500

$91,400

$87,100

$75,300

$72,300

$69,800

$67,500

$65,600

$60,900

$60,100

$58,900

$58,800

$58,800

$57,600

Greatest Change

MEDIAN 5-YEAR

VALUE APPRECIATION

STATE

Nevada

Oregon

California

Alaska

Colorado

Washington

Indiana

Mississippi

Missouri

Connecticut

North Dakota

Michigan

Pennsylvania

Vermont

Oklahoma

106

96

85

83

75

62

55

49

45

42

42

41

39

38

37

%

Most Expensive

Greatest Change

MEDIAN 5-YEAR

VALUE APPRECIATION

STATE

MEDIAN HOME VALUES

STATE

Washington

Oregon

California

Nevada

Massachusetts

Vermont

New Mexico

New Hampshire

Rhode Island

North Carolina

Florida

Arizona

Maine

Tennessee

Oklahoma

Nevada

Oregon

California

Alaska

Colorado

Washington

Indiana

Mississippi

Missouri

Connecticut

North Dakota

Michigan

Pennsylvania

Vermont

Oklahoma

$125,400

$93,500

$91,400

$87,100

$75,300

$72,300

$69,800

$67,500

$65,600

$60,900

$60,100

$58,900

$58,800

$58,800

$57,600

106

96

85

83

75

62

55

49

45

42

42

41

39

38

37

%

Source: Lendingtree

By The New York Times

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