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Manufactured Housing. Meeting Today’s Housing Challenges. What is Manufactured Housing?. Homes built in a factory to the Federal Manufactured Home Construction & Safety Standards (the “HUD Code”). The HUD Code is the only federally-regulated building code.

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manufactured housing

Manufactured Housing

Meeting Today’s Housing Challenges

what is manufactured housing
What is Manufactured Housing?
  • Homes built in a factory to the Federal Manufactured Home Construction & Safety Standards (the “HUD Code”).
  • The HUD Code is the only federally-regulated building code.
  • Manufactured homes are built on a steel frame and may be single- or multi-section. They are substantially complete from the factory.
  • The modules are transported to the site and installed.
what is manufactured housing3
What is Manufactured Housing?
  • The federal standards regulate manufactured housing design and construction, strength and durability, transportability, fire resistance, energy efficiency and quality.
  • Manufactured homes can only be single-family dwellings.
the industry s business model
The Industry’s Business Model
  • Manufacturers, many of which are large national companies, build homes in factories.
  • The manufacturer sells homes to manufactured home retailers that own and operate professional home sales centers.
  • Consumers visit retail sales centers and purchase homes in inventory or custom order homes to fit their specific wants and needs.
the industry s business model5
The Industry’s Business Model
  • Homes in inventory at the retail sales center and custom ordered homes are often financed through specialized national lenders.
  • When the home goes to closing, the inventory lender and the retailer are paid for the home through the customer’s financing.
industry need for inventory financing
Industry Need for Inventory Financing
  • The current instability in the capital markets has caused the interruption of inventory financing from the large national finance companies that specialize in this line of business.
industry need for inventory financing7
Industry Need for Inventory Financing
  • Many retailers in the industry already work with local banks to provide part or all of the financing they need for inventory.
  • Additionally, those retailers that have not worked with local banks to provide financing for their customers, are looking to them for permanent home financing as well.
slide8
Quick Facts from 2008
  • 18 Million people live in manufactured homes.
  • Average household size is 2.8 persons.
  • 74% of new manufactured homes are sited on private property and the remaining are sited in land-lease communities.
slide9
Quick Facts from 2008

Age of Household Head

Less Than 30 8%

30-39 20%

40-49 25%

50-59 25%

60-69 16%

70 and older 8%

slide10
Quick Facts from 2008

Annual Household Income

Less Than $10,000 5%

$10,000-$19,999 14% $20,000-$29,999 21%

$30,000-$39,999 18%

$40,000-$49,999 16%

$50,000 and over 27%

slide11
New Manufactured Homes –

Size & Cost:

  • Average square footage: 1600 sq. ft.
    • Single-section 1100 sq. ft.
    • Multi-section 1775 sq. ft.
  • Average sales price: $65,100 (structure only)
    • Single-section $37,200
    • Multi-section $74,100
slide12

Today’s Manufactured Home

Has So Much to Offer!

slide13
Manufactured homes offer the same interior and exterior design options as site-built – often with greater customization than production site-built.

Common features of today’s homes include…

today s manufactured home
Today’s Manufactured Home
  • Is aesthetically compatible with many existing neighborhoods.
  • Results in cost savings due to factory efficiencies.
  • Shortens construction time significantly.
  • Delivers the home that home buyers want.
manufactured homes offer
Manufactured Homes Offer:
  • Home costs of 10-35% less than site-built homes.
  • Same features and amenities as site built.
  • More flexible, affordable, customization than comparable site-built homes.
  • Same building materials and quality engineered design.
  • Home warranties equal to or better than site-built homes.
can we work together to
Can We Work Together to:
  • Meet the demands of affordable housing needed today.
  • Ensure the continued operation of the retail sales center business model through inventory financing.
  • Provide home financing needed by manufactured home buyers.
  • Explore opportunities for other relationships with retailers and/or home buyers, such as real estate finance, credit cards and other types of personal and business financial services.
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