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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


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 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

  • 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 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

  • 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 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.


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.


Quick Facts from 2008

Age of Household Head

Less Than 30 8%

30-3920%

40-4925%

50-5925%

60-6916%

70 and older 8%


Quick Facts from 2008

Annual Household Income

Less Than $10,000 5%

$10,000-$19,99914%$20,000-$29,99921%

$30,000-$39,99918%

$40,000-$49,99916%

$50,000 and over 27%


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


Today’s Manufactured Home

Has So Much to Offer!


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…


Largeliving & family rooms with built-ins


Hardwood floors, drywall throughout, and features like fireplaces


Tray ceilings in bedrooms, living rooms and dining rooms


Spacious customizable kitchens and stainless steel appliances


…with hardwood cabinets and solid surface counter tops


Large multipurpose spaces


Large master bedrooms


….and spacious bedrooms for the entire family


Spacious master baths


On the exterior - porches, garages and steeper roofs


Today’s Manufactured Home


Today’s Manufactured Home


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:

  • 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:

  • 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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