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Manufactured Housing - PowerPoint PPT Presentation

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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

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Manufactured Housing

Meeting Today’s Housing Challenges

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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.

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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.

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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.

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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.

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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.

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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.

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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.

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Quick Facts from 2008

Age of Household Head

Less Than 30 8%





70 and older 8%

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Quick Facts from 2008

Annual Household Income

Less Than $10,000 5%




$50,000 and over 27%

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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

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Today’s Manufactured Home

Has So Much to Offer!

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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…

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Largeliving & family rooms with built-ins

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Hardwood floors, drywall throughout, and features like fireplaces

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Tray ceilings in bedrooms, living rooms and dining rooms

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Spacious customizable kitchens and stainless steel appliances

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…with hardwood cabinets and solid surface counter tops

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Large multipurpose spaces

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Large master bedrooms

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….and spacious bedrooms for the entire family

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Spacious master baths

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On the exterior - porches, garages and steeper roofs

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Today’s Manufactured Home

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Today’s Manufactured Home

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Today’s Manufactured Home

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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.

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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.

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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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