New Paper Calls MHCs a Supply-Side Solution to the Housing Crisis
UMH Properties, Inc. has released a new paper about the promise of manufactured housing communities. Entitled, “Manufactured Housing Communities Provide a Supply-Side Solution to the Affordable Housing Crisis,” by Aaron Potter, MBA, Assistant to the President, the paper outlines major issues facing housing markets across the country and how manufactured home communities can help millions of families own homes that are affordable and of the highest quality.
Very low-, low-, and moderate-income families are struggling to find quality, attainable housing opportunities as the affordability gap expands. UMH’s paper explains the magnitude of the problem, noting both its severity and reach —almost one-third of all households are considered cost burdened, putting over 30 percent of their income toward housing costs. This has resulted in many potential homebuyers being shut out of the market; specifically, “young, first-time home buyers are finding it hard to come up with enough money for down payments due to other debt burdens, including massive amounts of student loans.”
Underscoring this troubling state of the market is the reality that current housing supply cannot meet the demand for affordable homes. As MHI has long held, manufactured housing presents a viable solution for helping close the gap between demand and supply of quality, affordable housing.
UMH’s paper further highlights how the significant cost-savings associated with factory-built construction efficiencies are passed on to consumers: “Studies show that manufactured housing costs, including the setup, transportation, and land can be as much as 75 percent less than the cost of a site-built house, but ordinarily average 50 percent less than the cost of site-built homes.” The paper also notes how the federal HUD Code, to which manufactured homes are built, can be more cost-effective compared to numerous state and local regulations that govern site-built construction.
The paper reinforces the vital role land-lease communities have in providing affordable housing opportunities, stating, “Outstanding communities offer a better alternative to renting out of apartment complexes with their added privacy, opportunity to build equity, and so much more.”
MHI is fighting to advance the priorities of manufactured housing at the federal level. Our advocacy helps improve access to manufactured homes so more families can achieve the dream of homeownership. UMH notes MHI’s role in the Department of Housing and Urban Development’s (HUD) Innovative Housing Showcase this June, where MHI worked to have three fully-furnished, HUD Code, manufactured homes on the National Mall. UMH was an exhibitor during the showcase, showing policymakers and the public the benefits of manufactured housing community living.
MHI will continue to fight for the industry and spread the message echoed in UMH’s paper—that manufactured housing presents the best option to helping solve America’s housing crisis. If you have any questions, please contact MHI’s Advocacy and Communications Dept. at MHIgov@mfghome.