Some 94,000 manufactured homes were shipped to the United States during calendar 2020, compared to 95,000 shipped during calendar 2019 and 97,000 in 2018.
These things correspond to the code of the United States Department of Housing and Urban Development (HUD, for its acronym in English).
Before 2019, annual shipments had increased every year since calendar year 2009, when 50,000 HUD code manufactured homes were shipped, the lowest level since the industry began recording statistics in 1959.
According to Cavco Industries, manufactured housing offers an alternative to other low-cost forms of new housing, such as site-built homes and condominiums, and to existing housing, such as used houses and apartments.
According to statistics released by the Institute of Construction Safety and Technology and the Census Bureau of the United States Department of Commerce, for calendar year 2020, wholesale shipments of manufactured and constructed homes in accordance with the HUD code accounted for an estimated 10.3% of all new single-family homes sold.
From Cavco Industries’ perspective, the manufactured home market includes consumers of diverse backgrounds with household incomes of less than $ 40,000.
This segment has a high representation of people 55 and older, as well as young singles and young married couples.
Also, the low cost of a fully-equipped manufactured home compared to a site-built alternative is attractive to these consumers.
People in rural areas and those currently living in manufactured homes also make up a significant part of the demand for new manufactured homes.
The adult population of the United States is estimated to expand by approximately 9.2 million between 2021 and 2026.
Young adults born between 1976 and 1995, often referred to as Generation Y or Millennials, represent a large segment of the population who are typically first-time home buyers attracted by the affordability, diversity, and and location flexibility of factory-built homes.
Additionally, the 55+ category is reported to be the fastest growing segment of the United States population.
This group is equally interested in the value proposition; however, they are also motivated by the energy efficiency and low maintenance requirements of factory-built homes, and by the lifestyle offered by planned communities that are specifically designed for homeowners belonging to this age group. .