In this podcast, Executive Director, Edwin King, talks with Barry Noffsinger, a leader in the manufactured housing industry with over 20 years of experience, including financial services. Together, they discuss how the image of manufactured housing is changing, along with the challenges and opportunities as an affordable housing solution.
For more information about the Kentucky Manufactured Housing Institute, please visit their website at www.kmhi.org.
Some Notes and Stats on Manufactured Housing:
An estimated 5.6 percent of all Americans, or 17.7 million people, live in manufactured homes, commonly referred to as “mobile homes” or “trailers.” Metros located in the South and Southwest have the highest share of households living in mobile homes.
The number of mobile homes and trailer parks in the United States grew rapidly in the 1980s, when the federal government slashed funding for affordable housing. Today, mobile homes are the largest source of unsubsidized affordable housing in the U.S., providing shelter for one in ten households living below the poverty line.
Nationwide, the average monthly gross housing cost for a mobile home is $564, compared to $1,057 for a site-built home or apartment. In the 100 largest metros, mobile home residents spend 40.5 percent less on housing costs than those living in non-mobile homes in the same metro, on average.
Manufactured homes can be built faster and cheaper than traditional homes. Yet, even with a growing gap between the supply-and-demand of low-cost housing, they are rarely viewed as a solution to the affordable housing shortage. In less dense areas, local leaders can leverage mobile homes to increase the low-cost housing stock.