Average Cost of a Manufactured Home in 2018

UPDATED 29 MAR, 2018

The article explores average prices for the different kind of manufactured homes as well as the cost of land. You can also see the comparison of prices for new manufactured homes vs new single-family site-built homes.

Why Manufactured Home?

There always has been a need for quality, affordable housing. And the prefabricated housing industry has come up with the solution for people who want a new home with all of the features that a site-built home would offer but at a fraction of the price - manufactured homes. 

This article explores average prices for the different kind of manufactured homes as well as the cost of land.

First, let’s review what a manufactured home is and why it is more affordable than a site-built home.

A Manufactured Home is a home built entirely in the factory under a federal building code administered by the U.S. Department of Housing and Urban Development (HUD). Manufactured homes may be single- or multi-section and are transported to your home site and installed.

Manufactured homes are less expensive because:

  • The factory uses an assembly line to build these homes. The process becomes more efficient;
  • It is built inside so there are no weather delays;
  • Manufacturing is not disrupted by theft of both workers and hooligans;
  • Due to the scale of production, a manufacturer buys large quantities of materials at less cost;
  • The property taxes on manufactured homes are lower than on-site homes;
  • Mortgages on manufactured homes are easier to obtain.
Read also:  Affordable Housing. Why Are Manufactured Homes so Cheap?

Top 6 Best Manufactured Home Loans

Average Sales Price of New Manufactured Homes by Size

There are 3 types of manufactured homes: Single Wides, Double Wides, and Triple/Multi Wides.

Single Wides

  • Average Size: from 500 to 1200 square feet
  • What’s included: 1-2 (rarely 3) bedrooms, 1-2 bathrooms

Double Wides

  • Average Size: from 1000 to 2200  square feet
  • What’s included: 2-3 (rarely 4) bedrooms, 2 (rarely 1 or 3) bathrooms

Triple/Multi Wides

  • Average Size: from 2000+ square feet
  • What’s included: 3+ bedrooms, 2+ bathrooms

In the table below you can see how much Single Wides, Double Wides, and homes with more than two sections cost in the Western region of the United States in 2017.  

Average Sales Price of New Manufactured Homes by Size of Home in the Western Region
 
Total*
Single
Double
2017
 
 
 
January
$93,600
$45,800
$107,100
February
$104,200
$59,000
$115,100
March
$89,800
$49,400
$99,400
April
$93,000
$57,200
$104,300
May
$94,900
$47,800
$104,500
June
$106,300
$46,600
$125,000
July
$99,700
$44,500
$111,900
August
$91,600
$46,600
$110,900
September
$95,600
$51,700
$116,700
October
$95,200
$50,900
$106,900
 
*Total - manufactured homes with more than two sections.
 

Winter vs Summer Manufactured Homes Prices in the Western Region

Average prices in the period January-March are lower than in other months. As there are fewer people buying in winter, there are fewer people selling in winter. So it is cheaper to buy a home in winter. But it is more difficult to find your perfect combination of size and style because there are fewer homes to choose from - and thus homes cost less. Some associate it with a school year.

$45,800 - $49,400 for a Single Wide

$107,100 - $99,400 for a Double Wide

$93,600 - $89,800 for manufactured homes with more than two sections

Otherwise, during the summer, there are many houses for sale and people can find their ‘perfect home’ fast, and they are willing to pay a higher price for it. So the average price range in the period June-September is higher than the rest of the year:

$46,600 - $51,700 for a Single Wide

$125,000 - $116,700 for a Double Wide

$106,300 - $95,600 for manufactured homes with more than two sections

Average Nationwide Prices

In the table below you can see how much Single Wides, Double Wides, and homes with more than two sections cost nationwide in 2017. 

2017
Total*
Single Wide
Double Wide
Winter
$69,550
$46,800
$91,100
Spring
$71,733
$49,100
$88,600
Summer
$74,900
$48,333
$95,167
Fall
$70,050
$46,750
$94,650
 
*Total - manufactured homes with more than two sections.

You can DOWNLOAD the full table here 

Here is a great example of a Double-Wide Winchester Bay Model HD3068 for $89,900

Comparing Prices. New Manufactured vs New Single-Family Site-Built Homes. Cost per Foot Square

The table below outlines the average sales price and a cost per foot square between new manufactured homes and single-family site-built homes.

Cost & Size Comparisons of New Manufactured & New Single-Family Site-Built Homes

 

2014
2015
2016
New Manufactured Homes  
(Including typical installation cost,
excluding land)
 
 
 
Single-Section
 
 
 
Average Sales Price
$45,000 
$45,600 
$46,700
Average Square Footage
1,115
1,092
1,075
Cost Per Square Foot
$40,36 
$41,76 
$43,44
Multisection
 
 
 
Average Sales Price
$82,000 
$86,700
$89,500 
Average Square Footage
1,710
1,713
1,746
Cost Per Square Foot
$47,95 
$50,61 
$51,26 
New Single-Family Site-Built Homes
 
 
 
Average Sales Price   
 $345,800  
 $360,600  
 $372,500  
Less Land Price
-$84,628
-$84,316
-$85,686  
Price of Structure                                               
$261,172
$276,284
$286,814
Average Square Footage
2,690
2,745
2,676
Cost Per Square Foot
$97,10 
$100,65
$107,18
 

Home Values of Site-Built Homes in 2018 according to Zillow Home Value Index: 

  • in Arizona median list price per square foot: $149; median sale price: $248,400
  • in California median list price per square foot: $299; median sale price: $472,900
  • in New Mexico median list price per square foot: $128; median sale price: no data; median home value: $182,500
  • in Oregon median list price per square foot: $203; median sale price: $326,000
  • in Washington median list price per square foot: $203; median sale price: $344,700

The average cost per square foot for a multi-sectioned manufactured house is significantly smaller than the average cost per square foot for a single-family site-built house. It is $51,26 against $107,18 including installation costs for a manufactured home. Manufactured homes provide the highest quality at significantly lower prices than site-built homes.

You can DOWNLOAD the full table here

Buying land. How much does it cost?

When buying a manufactured home you need to think of where will you put it. It can be a mobile home park or a lot that you own or going to purchase. Land values differ greatly throughout all 50 states.

Here are the average land values in the states HomesDirect operates in:

 
2014
2015
2016-Q1
 
AZ
$75,197
$90,479
$100,889
CA
$345,098
$384,779
$408,760
DC 
$686,609
$722,300
$723,227
NM
$40,267
$43,294
$44,135
OR
$170,831
$204,809
$230,936
 

You can DOWNLOAD the full table here

Read also: A Perfect Place to Put your Manufactured Home. Land You Own vs Mobile Home Park

Additional Costs to Consider

Utility Hookups

Electrical and telephone hookups should be discussed with the appropriate utility authorities that handle these hookups. If the manufactured home is located on an isolated property, then a substantial cost could be incurred for the hookup. Each utility can provide an estimate of the costs.

Delivery

Most manufacturers include delivery from the factory to the site if the site is within a fixed radius of miles, which in most instances is 100 miles (our internet pricing does not include delivery, setup, or sales tax). The purchaser is responsible for the expense of the additional miles beyond the radius of 100 miles as well as additional expenses necessary to deliver the home. These expenses include additional equipment and manpower required to access the installation site and place the home on the site.

Taxes

States and municipal governments within states establish a tax formula and a tax rate. Some states tax a manufactured home at the same rate as would be applied to a site-built home, or a stick-built home as some refer to the home constructed on-site. Some states like Florida have a tax that is similar to the license tax for a car. Local governments may add a tax, but even this tax is very low. Other states have significantly higher tax rates on manufactured homes.

How to Finance a Manufactured Home

You can get financing for your manufactured home as easily as if you were building a home on a lot. These are the steps that you should take to prepare for the financing process:

Step 1. Interview potential financing sources

Step 2. After identifying a funding source make sure the maximum loan they are willing to make is the loan you need

Step 3. Consider actions you can take to obtain the best loan

Step 4. Do you have enough funds for the down payment?

Step 5. Determine the amount of loan you can comfortably pay back ...

To see the rest of the steps and to know more read our article:

Financing Your Manufactured Home in 10 Easy Steps