Mobile home values are rising at a rate nearly as fast as that of single-family homes, according to a study released earlier this month by online loan platform LendingTree.

Across the country, the median values of mobile homes increased 34.6% on average between 2016 and 2021, compared to 35.4% for single-family homes, based on a LendingTree analysis of U.S. Census data.

But climbing values are where the similarities stop.

Residents of mobile homes say that unlike single-family homes, typically houses that buyers purchase as an investment as much as a residence, mobile homes become more burdensome with time. They can fall into disrepair, making them less attractive to potential buyers. And the private companies who own the land can lowball on price when offering to buy the homes.

Plus, for many mobile homeowners, choosing to sell right now would mean entering an even tighter housing and rental market.

So, even as the values of their homes rise, owners are finding they’re stuck.

To continue reading the rest of the article, please click on the source link below:

https://www.npr.org/2022/10/27/1129699328/mobile-homes-housing-prices-value-inflation-houses-rent

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